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

 


Visy loses bid to challenge Appeal Court ruling on cartel

Visy loses bid to challenge Appeal Court ruling, will have to settle cartel case in High Court

Nov. 28 (BusinessDesk) - Visy Board has missed out on a chance to challenge a Court of Appeal ruling upholding the Commerce Commission's right to pursue the Australian packaging company and a former executive over an alleged cartel.

The Supreme Court declined Visy's application for leave to appeal, with Chief Justice Sian Elias and Justices John McGrath and Susan Glazebrook saying the appeal court ruling was "provisional and may be overtaken by re-assessment when the evidence is heard," according to a judgment published today. An appeal wouldn't remove all matters in the proceedings, nor shorten the hearing, the bench said.

"The Court of Appeal was careful to recognise that it should be cautious in attaching jurisdiction to a foreign defendant," the judgment said. "If any matter of principle in the application of the provision of the Commerce Act to the facts as found arises, it can be raised at trial where it can be determined in context."

In August, the Court of Appeal overturned a High Court ruling reducing the number of claims the antitrust regulator could pursue against the Australian company and its former general manager Rod Carroll, saying the lower court erred in rejecting a much wider pattern of alleged cartel behaviour in the New Zealand packaging market.

The Federal Court of Australia has already imposed penalties of A$36 million on Visy Board and its owner, Richard Pratt, and A$500,000 on Carroll. But the company and the executive have denied the cartel arrangements extended to New Zealand and objected to the commission pursuing its claims here.

The commission contends Visy and rival Amcor had a broad understanding in Australia, referred to as the ‘overarching understanding’ on market sharing and price fixing which was subsequently extended to New Zealand. Below this was what it called “a series of discreet understandings” in relation to New Zealand supply contracts.

Amcor made a request for leniency under Australian and New Zealand antitrust rules. Leniency rules are designed to encourage cartel members to cooperate with antitrust investigations to help ensure successful prosecution while mitigating their own punishments.

Visy and Amcor compete with Carter Holt Harvey in the New Zealand packaging market.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

ETS Review: Modelling Documents Released

Three technical documents are being released to help New Zealanders engage with the Emissions Trading Scheme (ETS) review, Climate Change Minister Paula Bennett says. More>>

ALSO:

Northland: Govt Plan Targets Transport, Web, Maori Assets

The government has released a 10-year plan to attract investors and lift economic growth in Northland, a region that perennially underperforms the rest of the country even while being endowed with natural beauty, productive land, minerals, a potential workforce, scope for manufacturing, forestry and aquaculture, and proximity to Auckland. More>>

ALSO:

Statistics: Unemployment Rate Falls To 5.3 Percent

The unemployment rate fell to 5.3 percent in the December 2015 quarter (from 6.0 percent), Statistics New Zealand said today. This is the lowest unemployment rate since March 2009. There were 16,000 fewer people unemployed than in the September ... More>>

ALSO:

Employment: Labour Urges Talley’s To End AFFCO Lockout

Labour has urged Talley’s to resolve the ongoing industrial dispute with AFFCO workers which is having a severe effect on the employees, their families and their communities, Labour’s Workplace Relations spokesperson Iain Lees-Galloway says. More>>

ALSO:

Three Kings: Govt To Oppose Appeal Blocking $1.2B Auckland Housing Plan

Environment Minister Nick Smith and Housing New Zealand have joined legal proceedings in support of Auckland Council and Fletcher Building opposing a bid by community groups to only allow low-rise housing in a $1.2 billion housing redevelopment on the disused site of the Three Kings quarry. More>>

ALSO:

Transport: Jetstar Expands Regional Network With Three New Routes

More New Zealanders than ever before will have access to Jetstar’s affordable flights when new services take off today from Auckland to New Plymouth and Palmerston North, and Nelson to Wellington. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news