Visy Hit With $2.8M Penalty In Packaging Cartel Case

Law360, New York (August 22, 2013, 2:59 PM ET) -- Visy Board Proprietary Ltd. was ordered to pay NZ$3.6 million ($2.8 million) by a New Zealand court Thursday after admitting to its part in scheme in which it conspired to fix prices on cardboard packages, New Zealand's Commerce Commission announced.

The company's former chief senior executive John Carroll also acknowledged his involvement in the plot and was fined $25,000 as part of a pretrial settlement under which the company admitted it had formed a cartel with competitor Amcor Ltd. and that they divided customers, including Coca...
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