Australia Fines NYK $25 Million for ’Criminal Cartel Conduct’ – gCaptain
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The Federal Court of Australia has convicted Japanese shipping company Nippon Yusen Kabushiki Kaisha (NYK) of criminal #cartel conduct and ordered it to pay a fine of $25 million relating to the transportation of motor vehicles to Australia between 2009 and 2012.
The fine is the second-highest fine ever imposed by the Australian Competition & Consumer Commission (ACCC). The judgment also marks the first successful prosecution under the criminal cartel provisions of the country’s Competition and Consumer Act 2010 (CCA).
Following an extensive investigation by the ACCC, the Commonwealth Director of Public Prosecutions charged NYK with “giving effect to cartel provisions in an arrangement or understanding with other shipping lines” over the transportation of vehicles to Australia between 2009 and 2012, the ACCC said in a statement.
“The cartel operated from at least February 1997 and affected vehicles transported to Australia by NYK and other shipping lines from locations in Asia, the US and Europe on behalf of major car manufacturers including Nissan, Suzuki, Honda, Toyota and Mazda,” The ACCC said.
… and Europe…