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Tag: cartel

First criminal cartel conviction: some initial thoughts ?>

First criminal cartel conviction: some initial thoughts

In brief Yesterday (3 August 2017) the Federal Court convicted and fined Nippon Yusen Kabushiki Kaisha (NYK) for cartel conduct.  The fine is significant in that it represents the first time that a corporation has been convicted and fined under the criminal cartel laws, introduced in Australia in 2009. The cartel conduct the subject of the proceeding was said to have occurred since 1997 but, because Australia’s criminal cartel laws were only introduced in 2009, the charge related only to…

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First criminal cartel fine: $25 million ?>

First criminal cartel fine: $25 million

First criminal cartel fine The Federal Court today convicted Nippon Yusen Kabushiki Kaisha (NYK) of criminal cartel conduct and ordered it to pay a fine of $25m (Commonwealth Director of Public Prosecutions v Nippon Yusen Kabushiki Kaisha [2017] FCA 876). This was the first successful prosecution under Australia’s criminal cartel provisions which have been in place since 2009. The fine includes a significant discount (50%) for an early guilty plea, cooperation and contrition). Quick summary and background In 2016, following…

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Apple goes on the attack ?>

Apple goes on the attack

There has been plenty of media this week generated by Apple’s latest submission in response to the application by four banks to collectively bargain and boycott Apple in relation to Apple Pay. Brief re-cap: the story so far The application The saga began in August 2016 when four banks (Cth, Westpac, NAB, Bendigo and Adelaide Bank) sought authorisation to collectively bargain with and boycott Apple in relation to Apple Pay.  The ACCC may grant authorsiation for conduct that would otherwise contravene the…

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High Court finds for ACCC in Flight Centre appeal ?>

High Court finds for ACCC in Flight Centre appeal

The High Court today handed down its decision in the Flight Centre appeal.  The five High Court judges produced four different sets of reasons.  The majority of four-one (Chief Justice French dissenting) concluded that the ACCC’s appeal ought to be allowed.  They reached this conclusion on substantially the same grounds. The ACCC argued that Flight Centre had attempted to induce Singapore Airlines, Malaysia Airlines and Emirates not to discount the tickets they sold directly to customers, that Flight Centre was in competition with those…

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Banks denied interim authorisation for cartel conduct ?>

Banks denied interim authorisation for cartel conduct

In an earlier post I noted that that several Australian banks had applied to the ACCC for authorisation to collectively bargain ‘with providers of third-party mobile wallet services [including Apple] on conditions relating to competition, best practice standards, and efficiency and transparency.’ Authorisation and interim authorisation Authorisation may be granted for cartel conduct and other prohibited anti-competitive conduct on public benefit grounds.  Applications typically take up to six months, which allows the ACCC to undertake detailed market studies and full consideration of potential competitive detriment…

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Apple versus the banks ?>

Apple versus the banks

Several Australian banks, including three out of the ‘big four’ banks, want the ACCC to give them the green light to engage in hard-core cartel conduct. The Banks’ submission On 26 July Bendigo and Adelaide Bank, the Commonwealth Bank, NAB and Westpac sought authorisation to engage in collective negotiation with providers of third party mobile wallet services (essentially Apple) and to collectively boycott third-party providers during the course of collective negotiations.  Apple has so far locked out third-party providers, although ANZ (the…

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