Cabcharge Fined $15M For Competition Breaches

Law360, New York (September 24, 2010, 1:08 PM EDT) -- An Australian court has fined Cabcharge Australia Ltd. $15 million for violating the Trade Practices Act of 1974, the highest penalty the country's competition watchdog has ever imposed for misuse of market power proceedings.

The Australian Competition and Consumer Commission announced the ruling Friday, lauding the completion of the proceedings in the Federal Court in Melbourne.

"The decision reflects the determination by the ACCC to seek significantly higher penalties for breaches of the competition provisions of the Trade Practices Act under the higher penalty regime that...
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