A PYMNTS Company

South Africa: Antitrust violators risk higher fines with delayed settlements

 |  June 25, 2013

Companies accused of violating antirust law by the nation’s Competition Commission risk higher fines if they delay settlements or choose to fight a penalty, according to reports. Construction firm Group Five, one of three such firms with settlements still outstanding from the regulator’s recent issuance of sanctions against construction companies found to have fixed prices, is particularly at risk for inflated fines, says the report. The company is rumored to be refusing a settlement, meaning the case will be bumped to the Competition Tribunal. The case highlights the consequence of refusing the Commission’s fast-track settlement process, which aims to reduce the time it takes to settle, which could otherwise take months.

Full Content: BDLive

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.