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Business Competition media releases

December 2009

Holiday voucher company pleads guilty to Fair Trading Act breaches

15 December 2009

Discount Premium Holidays Limited, a New Zealand registered company that operated from Australia selling holiday vouchers in New Zealand, has pleaded guilty to 38 charges of breaching the Fair Trading Act and has been fined $209,000 in the Auckland District Court today. Discount Premium Holidays has also been ordered to pay $4,940 in court costs and $7,500 in solicitor's fees.

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Draft divestment guidelines released for consulation

3 December 2009

The Commerce Commission has today released draft guidelines on how divestment undertakings as part of a merger or acquisition application will be treated.  

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November 2009

Energy companies warned over alleged anti-competitive behaviour

24 November 2009

The Commerce Commission has issued a formal warning to two energy companies alleged to have attempted to engage in anti-competitive conduct during the purchase by tender of a power station near Nelson in 2002.

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October 2009

'Failing firm' guidelines issued by Commerce Commission

30 October 2009

The Commerce Commission today released guidelines on how applications for mergers and acquisitions involving the 'failing firm' argument will be treated. The guidelines are designed to assist businesses and their legal representatives by explaining how the Commission will assess claims that the target firm (or division of a firm) is failing as well as outlining the types of supporting evidence that may be required. These guidelines supplement the Commission's Mergers and Acquisitions Guidelines.

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Credit card settlements lower New Zealand business costs

5 October 2009

The Commerce Commission has reached separate agreements with seven financial institutions settling the Commission's claims that they breached the Commerce Act, and ushering in a new competitive landscape for the credit card industry in New Zealand.

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September 2009

Commerce Commission publishes draft revised leniency policy

3 September 2009

The Commerce Commission is seeking feedback from interested parties on its draft revised leniency policy on cartels.

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Commerce Commission seeks leave to appeal 0867 case to Supreme Court

1 September 2009

The Commerce Commission will seek leave to appeal to the Supreme Court in its case against Telecom Corporation of New Zealand Limited (Telecom) over Telecom's introduction of the 0867 dial-up prefix in 1999.

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August 2009

Frucor Beverages cleared to acquire Simply Squeezed

25 August 2009

The Commerce Commission has cleared Frucor Beverages Limited (Frucor) to acquire Simply Squeezed Holdings Ltd and/or Brownlie Brothers Ltd (Simply Squeezed).

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Commerce Commission and MasterCard agree to settle credit card interchange fee proceedings

24 August 2009

The Commerce Commission and MasterCard International Incorporated (MasterCard) have signed an agreement settling the Commission's claims that MasterCard's credit card scheme rules providing for the payment of multilateral interchange fees, together with related rules, breached the restrictive trade practices provisions of the Commerce Act.

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Pfizer granted clearance to acquire Wyeth

20 August 2009

The Commerce Commission has granted clearance for Pfizer Inc. to acquire Wyeth Corporation.

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Schering-Plough granted clearance to merge with Merck

20 August 2009

The Commerce Commission has granted clearance to Schering-Plough Corporation in respect of the proposed merger between Schering-Plough Corporation and Merck & Co., Inc.

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Commerce Commission and Visa reach agreement to settle credit card interchange fee proceedings

12 August 2009

The Commerce Commission has signed an agreement with the Visa International Service Association and Visa Worldwide Pte Limited (Visa) settling the Commission's claims against Visa in relation to credit card interchange fees. The Commission's proceedings allege that the rules of the Visa scheme providing for the payment of multilateral interchange fees, together with related rules, breached the restrictive trade practices provisions of the Commerce Act.

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Commerce Commission considers Court of Appeal 0867 decision

4 August 2009

The Commerce Commission is studying a decision by the Court of Appeal, released today, in a case brought by the Commerce Commission against Telecom Corporation of New Zealand Limited (Telecom) under section 36 of the Commerce Act.

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July 2009

Statement of preliminary issues available for Frucor Beverages Ltd clearance application

23 July 2009

The Commerce Commission has published a statement of preliminary issues relating to an application seeking clearance received from Frucor Beverages Ltd (Frucor). The application, received on 7 July 2009, sought clearance for Frucor Beverages to acquire up to 100 per cent of the assets or business of Simply Squeezed Holdings Ltd (Simply Squeezed).

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Commerce Commission consults on 'failing firms' guidelines

9 July 2009

The Commerce Commission has today released draft supplementary guidelines on how merger and acquisitions applications involving the 'failing firm' argument will be treated.

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Frucor applies for clearance to acquire Simply Squeezed

7 July 2009

The Commerce Commission has received an application from Frucor Beverages Ltd seeking clearance to acquire Simply Squeezed Holdings Ltd.

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June 2009

Fullers Group cleared to acquire 360 Discovery

30 June 2009

The Commerce Commission has granted clearance for Fullers Group Limited to acquire most of the assets of the business called 360 Discovery operated by Kiwi Kat Limited.

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Pfizer applies for clearance to acquire Wyeth

10 June 2009

The Commerce Commission has received an application from Pfizer Inc. seeking clearance to acquire Wyeth Corp.

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Fullers Group applies for clearance to acquire assets of Kiwi Kat

9 June 2009

The Commerce Commission has received an application from Fullers Group Limited seeking clearance in relation to the proposed acquisition of most of the assets of 360 Discovery, operated by Kiwi Kat Limited.

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Commerce Commission enables streamlined authorisations

8 June 2009

Following public consultation, the Commerce Commission has developed a new streamlined authorisation process. This process has been designed to enable faster decisions for straightforward authorisation applications that have clear public benefits and a relatively limited impact on competition.

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Commerce Commission determines that Kaimai and Grate Kiwi are independent processors

5 June 2009

The Commerce Commission has released its final determination regarding disputes between Fonterra Co-operative Group Limited and both Kaimai Cheese Company Limited and The Grate Kiwi Cheese Company Limited.

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May 2009

Schering-Plough applies for clearance to merge with Merck

22 May 2009

The Commerce Commission has received an application from Schering-Plough Corporation seeking clearance in relation to the proposed merger between Schering-Plough Corporation and Merck & Co., Inc.

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Arrangements for release of Commerce Commission electricity investigation report

21 May 2009

The Commerce Commission will release its report following an investigation into the electricity market today, Thursday 21 May.

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Commerce Commission finds that electricity companies have not breached the Commerce Act

21 May 2009

The Commerce Commission has concluded its principal investigation into whether any participants in the wholesale or retail electricity markets may have breached Part 2 of the Commerce Act. The Commission has found no evidence of breaches of the Act, although it will be issuing one warning regarding a risk of a breach.

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April 2009

Reasons published for clearance granted to Fletcher Building to acquire Stevenson masonry

3 April 2009

The Commerce Commission has published its reasons for granting clearance to Fletcher Building Limited to acquire up to 100 per cent of the assets of both Stevenson Group Limited's Whangarei masonry business and Stevenson's Auckland masonry business.

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Commerce Commission warns Schindler Lifts over alleged bid-rigging conspiracy

1 April 2009

The Commerce Commission has issued formal warnings to Schindler Lifts New Zealand Limited (Schindler) and one current and one former employee for participating in a longstanding cartel arrangement which shared elevator installation contracts in the South Island. The Commission alleges the cartel operated from the early 1980s until late 1995. The warning was issued following an admission from the Schindler manager concerned.

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March 2009

Commerce Commission issues warning to Real Estate Network

31 March 2009

The Commerce Commission has warned the Real Estate Network Limited (REN) that it and its members risk breaching the Commerce Act. REN is a cooperative company representing approximately 95 per cent of licensed residential real estate agents in and around Christchurch. Last year it adopted a by-law setting a minimum for commissions payable between its members.

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Commerce Commission consults on streamlined authorisation process guidelines

30 March 2009

The Commerce Commission has developed a new streamlined authorisation process that will enable faster decisions on certain authorisation applications. This should result in more timely and cost-effective decisions by businesses.

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Commerce Commission files waste oil domestic cartel case

23 March 2009

The Commerce Commission has today filed proceedings in the High Court in Auckland alleging the collusive fixing of prices in the waste oil industry.

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Commerce Commission procedure in accordance with standard best practice

20 March 2009

The Commerce Commission is disappointed that Air New Zealand has chosen to file what the airline itself describes as "unnecessary litigation" and in so doing, is seeking to delay the proceedings that seek to determine whether or not Air New Zealand was a party to a sophisticated international price fixing arrangement.

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Court of Appeal upholds Commission's ability to pursue overseas residents

18 March 2009

The Commerce Commission welcomes a Court of Appeal ruling today confirming the New Zealand Courts' jurisdiction over overseas residents alleged to have breached the Commerce Act.

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David Ferrier cleared to acquire Godfrey Hirst's wool scours

6 March 2009

The Commerce Commission has given clearance today for Auckland businessman Mr David Ferrier, or his company New Zealand Woolscourers Limited, to acquire wool scouring and wool dumping assets of Godfrey Hirst NZ Limited and shares in Cavalier Wool Holdings Limited. The acquisition will result in the wool scouring businesses of Cavalier Wool and Godfrey Hirst coming under common ownership.

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February 2009

Commerce Commission review of enforcement framework relating to single-firm conduct

25 February 2009

The Commerce Commission has commenced a review of the effectiveness of the enforcement framework for addressing allegations under section 36 of the Commerce Act that a firm has taken advantage of its market power.

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Media Monitors granted clearance to acquire Chong

19 February 2009

The Commerce Commission has granted clearance for Media Monitors Pty Limited to acquire all the business and assets of Chong Bureau Limited.

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Commerce Commission grants clearance to Fletcher Building to acquire Stevenson masonry assets in Auckland and Whangarei

13 February 2009

The Commerce Commission has today given clearance to Fletcher Building Limited to acquire up to 100 per cent of the assets of both Stevenson Group Limited's Whangarei masonry business and Stevenson's Auckland masonry business.

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Statement of preliminary issues available for Media Monitors application

5 February 2009

The Commerce Commission has published a statement of preliminary issues relating to an application received on 22 January 2009 from Media Monitors Pty Limited seeking clearance to acquire all the business and assets of Chong Bureau Limited.

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January 2009

Statement of preliminary issues available for New Zealand Woolscourers application

30 January 2009

The Commerce Commission has published a statement of preliminary issues relating to an application received from Mr David Ferrier on 12 December 2008, seeking clearance for himself, or his company, New Zealand Woolscourers Limited, concerning the acquisition of certain assets of Godfrey Hirst New Zealand Limited and shares in Cavalier Wool Holdings Limited.

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Coca-Cola Amatil cleared to acquire Baker Halls Brands from Old Fashioned Foods

29 January 2009

The Commerce Commission has cleared Coca-Cola Amatil (NZ) Limited (CCA) to acquire the Baker Halls and Baker Halls Original brands, a hot-fill production line and other associated assets from Old Fashioned Foods Ltd (OFF).

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Statement of preliminary issues available for Fletcher Building clearance application

28 January 2009

The Commerce Commission has published a statement of preliminary issues relating to an application received from Fletcher Building Limited. The application, received on 19 December 2008, sought clearance for Fletcher Building to acquire up to 100 per cent of the assets of Stevenson Group Limited's (Stevenson) Whangarei masonry business and up to 100 per cent of the assets of Stevenson's Auckland masonry business.

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Media Monitors apply for clearance to acquire Chong

23 January 2009

The Commerce Commission has received an application from Media Monitors Pty Limited seeking clearance to acquire all the business and assets of Chong Bureau Limited.

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Aerolineas Argentinas fined for non-compliance with Commerce Act

22 January 2009

An airline company has pleaded guilty to failing to supply information requested by the Commerce Commission under section 98 of the Commerce Act. It has been fined $11,000 in the Auckland District Court.

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Reasons published for decline of Tegel's application for clearance to acquire Brinks

9 January 2009

Tegel Foods Limited (Tegel) application to acquire the assets and undertaking of the poultry businesses of P H Van den Brink Limited, VDB Industries Limited, Brinks South Island Limited, Southland VDB Limited, and BAT Promotions Limited, collectively known as Brinks, is declined.

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