ACCC

A judge has sentenced the former CEO of Bingo Industries to two years’ imprisonment to be served in the community and imposed $30 million in penalties against the waste company for a cartel arrangement with rival Aussie Skips, which copped fines of $3.5 million and an 18 month’ intensive corrections order for its boss. 

The ACCC’s rejection of a $4.9 billion merger between ANZ and Suncorp was hardly surprising given the concentrated nature of the home loans market, but the competition regulator faced an uphill battle in having the decision upheld, an expert says.

The ACCC’s decision to block a $4.9 billion merger between ANZ and Suncorp has been set aside, with a tribunal finding the transaction will not substantially lessen competition in the home loans market or for agribusiness and SME clients in Queensland. 

The Australian Competition and Consumer Commission has raised concerns about the owner of realestate.com.au acquiring a national forms platform used by real estate agents, saying it could “significantly harm competitors”. 

Mazda has been ordered to pay $11.5 million after a court found the Japanese car maker engaged in “appalling” customer service and misled nine purchasers of defective vehicles about their entitlement to a refund or replacement under the Australian Consumer Law.

A report by former ACCC head Allan Fels has found that corporate greed and lack of competition is to blame for the continued high prices experienced by Australians and called on the government to take action to fill the regulatory gaps that allow businesses to engage in price-gouging.

Australia’s merger review regime is “outdated” and in need of an overhaul, according to the Australian Competition and Consumer Commission, which says companies must explain why their acquisitions should get the all-clear.

Webb Henderson has snagged a leading litigation and regulatory partner from Corrs Chambers Westgarth to join its team in Sydney.

The Australian Competition and Consumer Commission will conduct a one-year inquiry into supermarket pricing and competition amid concerns by consumers.

A judge has hit Airbnb with a $15 million penalty for misleading Australian consumers by displaying accommodation prices in US dollars, on top a $15 million consumer redress scheme the vacation rental giant has implemented.