The chairman and managing director of manufacturing conglomerate Bradken have appealed a fine issued by the Federal Court for $22.4 million after the Court found the company had rigged the bidding in the acquisition of Norcast Wear Solutions. The deal was finalized in July 2011 for $217 million. The ruling by the Court was a win for Pala Investments, which initiated the case against Bradken. But the company and its executives have appealed the fine, sending a statement to the Australian Securities Exchange with a request to reverse the decision.
Full Content: Business Spectator
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Massachusetts AG Sues Insulin Makers and PBMs Over Alleged Price-Fixing Scheme
Jan 14, 2025 by
CPI
Apple and Amazon Avoid Mass Lawsuit in UK Over Alleged Collusion
Jan 14, 2025 by
CPI
Top Agent Network Drops Antitrust Suit Against National Association of Realtors
Jan 14, 2025 by
CPI
Weil, Gotshal & Manges Strengthens Antitrust Practice with New Partner
Jan 14, 2025 by
CPI
Russian Court Imposes Hefty Fine on Google for Non-Compliance with Content Removal Orders
Jan 14, 2025 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – CRESSE Insights
Dec 19, 2024 by
CPI
Effective Interoperability in Mobile Ecosystems: EU Competition Law Versus Regulation
Dec 19, 2024 by
Giuseppe Colangelo
The Use of Empirical Evidence in Antitrust: Trends, Challenges, and a Path Forward
Dec 19, 2024 by
Eliana Garces
Some Empirical Evidence on the Role of Presumptions and Evidentiary Standards on Antitrust (Under)Enforcement: Is the EC’s New Communication on Art.102 in the Right Direction?
Dec 19, 2024 by
Yannis Katsoulacos
The EC’s Draft Guidelines on the Application of Article 102 TFEU: An Economic Perspective
Dec 19, 2024 by
Benoit Durand