Carter Holt Harvey Decision By Privy Council

Friday, 16 July 2004, 1:50 pm
Press Release: New Zealand Business Roundtable

July 16, 2004

CHH Decision Shows Why Loss of Privy Council May be Bad for Commerce in New Zealand

"The Privy Council's decision to overturn New Zealand High Court and Court of Appeal judgments and clear Carter Holt Harvey of accusations of predatory pricing underscores how important that body has been for New Zealand business and the community at large", Roger Kerr, executive director of the New Zealand Business Roundtable, said today.

"The New Zealand judgments were simply not up to scratch. If upheld, they would have had a chilling effect on competitive behaviour that benefits consumers.

"The Privy Council's decision shows a far better understanding of the economic issues surrounding claims of predation, and is much more rigorous.

"This is no small matter. CHH has stated the court process cost it more than $2 million, over and above staff time. The economic costs to the country of bad law could have been much higher", Mr Kerr concluded.

ENDS

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