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

 

Court grants interim stay on Warehouse judgment

19 December 2007, No 82

Court grants interim stay on Warehouse judgment

The High Court in Wellington has granted the Commerce Commission an interim stay of the High Court's judgment, which cleared the way for the three Foodstuffs co-operatives or Woolworths Ltd to acquire up to 100% shares in, or assets of, The Warehouse Group Ltd.

Yesterday the Commission filed an application for leave to appeal the High Court judgment of Justice Mallon, and sought a stay of the judgment pending the determination of any appeals.

Following a hearing today, the court issued the stay, which is in place until the outcome of a further hearing on 29 January which will consider the Commission's application for a stay until the matter is finally decided, and for leave to appeal to the Court of Appeal.

The Commission will make no further comment, pending the January hearing.

Background The Commission declined clearance for either the three Foodstuffs co-operatives or Woolworths Ltd to acquire up to 100% shares in, or assets of, The Warehouse Group Ltd. because New Zealand's supermarket retail market is already highly concentrated. There are high barriers to entry in the industry, and the Commission considers that the Warehouse is uniquely placed to compete with the supermarkets because of its existing property portfolio, extensive distribution networks and established brand.

In November the High Court, on appeal by Foodstuffs and Woolworths, overturned the Commission's decision to decline clearance for either potential acquisition.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Collecting Scalpers: Commerce Commission To Sue Viagogo

The Commission will claim that Viagogo made false or misleading representations: • that it was an “official” seller, when it was not • that tickets were limited or about to sell out • that consumers were “guaranteed” to receive valid tickets for their event • about the price of tickets... More>>

ALSO:

Price Of Cheese: Fonterra CEO Goes Early After Milk Price Trimmed

Aug. 15 (BusinessDesk) - Fonterra Cooperative Group chief executive Theo Spierings is leaving the role early after the world's biggest dairy exporter lowered its farmgate payout and trimmed its dividend to retain cash. More>>

ALSO:

9.2 Percent: Gender Pay Gap Second-Smallest On Record

This is the second-smallest gap since the series began 20 years ago. In comparison, the gender pay gap was 9.1 percent in 2012 (the lowest on record) and 9.4 percent last year. More>>

ALSO:

Forest & Bird: Report Find Council Failures On Effluent

The report exposes significant inconsistencies and gaps in how regional councils are enforcing the rules around dairy effluent management. More>>

ALSO:

Mana In Mahi: Helping Young New Zealanders Into Work

Thousands of young people will be given the chance to gain valuable qualifications and meaningful work under the Mana in Mahi – Strength in Work scheme launched by Prime Minister Jacinda Ardern today. More>>

ALSO:

Reserve Bank: Official Cash Rate Unchanged At 1.75 Percent

The Official Cash Rate (OCR) remains at 1.75 percent. We expect to keep the OCR at this level through 2019 and into 2020, longer than we projected in our May Statement. The direction of our next OCR move could be up or down. ... More>>