Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Koppers Arch and GM fined for Commerce Act breache

3 June 2005

Koppers Arch and GM fined for Commerce Act breaches

Koppers Arch Wood Protection and its General Manager Roy Parish were today convicted and fined $25,000 and $8,000 respectively in the Manukau District Court for breaches of the Commerce Act 1986.

Koppers Arch pleaded guilty to furnishing false or misleading information, documents or evidence to the Commission, and Parish pleaded guilty to refusing or failing to comply with a section 98 notice requiring the provision of information and documents to the Commission. The fines were close to the maximums under the Act of $30,000 for a company and $10,000 for an individual.

Commission Chair, Paula Rebstock said the convictions and the fines were significant milestones for the Commission. "The Commission's investigative powers are very important to the Commission's role. Most companies respond well, but where companies and individuals do not, the Commission will take strong enforcement action," she said.

The cases arose during the course of a Commission investigation into alleged restrictive trade practices in the wood preservatives chemicals industry when the Commission issued notices requiring the provision of certain information and documents. Koppers Arch claimed it had provided all requested information and documents, but the Commission later learned that was not the case. The Commission also discovered that certain senior officers of the company had requested the deletion of some documents from its computer system.

In sentencing Koppers Arch and Mr Parish, Judge Morris said that the facts of the case were disturbing and that the charges were very serious. She went on to say that some of the conduct could have amounted to an attempt to pervert the course of justice under the Crimes Act.

"These sentences are a very important recognition of the seriousness of the behaviour of both the company and its General Manager, and the Commission hopes they will be seen as a very significant deterrent to any attempt to mislead or frustrate our efforts to enforce the Commerce Act," Ms Rebstock said.

"The sentencing today brings to an end one part of our investigation into the timber preservatives chemicals industry.

"We have issued civil proceedings in the Auckland High Court against four companies and seven executives for alleged cartel behaviour within the industry, and those proceedings are continuing," Ms Rebstock said.

ENDS


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>

ALSO:

Results:

Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news