NZ Freighters To Pay $4.3M In Price-Fixing Probe

Law360, New York (June 14, 2011, 7:26 PM EDT) -- A New Zealand court ordered BAX Global Inc., Schenker AG and Panalpina World Transport Ltd. to pay penalties totaling NZ$5.2 million (US$4.26 million) on Tuesday for forming a price-fixing cartel to impose extra fees for international freight forwarding services.

Justice C.J. Allan of the High Court at Auckland signed off on the settlements between the three defendants and the New Zealand Commerce Commission. BAX settled for NZ$1.4 million, Schenker for NZ$1.1 million and Panalpina for NZ$2.7 million.

The parties had agreed to the maximum possible fines,...
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