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Australia: Engineering firm to appeal its landmark fines

By  |  March 23, 2013
Australia: Engineering firm to appeal its landmark fines

Engineering firm Bradken Ltd. has vowed to fight a federal court’s decision charging the company of bid-rigging and ordering $22.4 million in fines as shares for the Australian company dropped nearly 5 percent. It was a considered a landmark case as the first instance of expanding Australia’s antirust law to cover bid-rigging, first introduced in 2010. Bradken was accused of violating law in both its acquisition and sale of Norcast Wear Solutions, a Canadian company, in just one day. Pala Investments, based in Switzerland, first initiated the lawsuit against Bradken.

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    Full Content: Reuters

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