Australia Fines Paper Cos. $4.3M For Cartel

Law360, New York (February 28, 2011, 4:24 PM EST) -- An Australian court on Friday fined Singapore's Asia Pulp & Paper Co. Ltd. and its Indonesian unit AU$4.2 million ($4.27 million) for fixing paper prices as part of an international cartel.

The Federal Court of Australia signed off on a $3.4 million penalty for APP and an $800,000 fine for PT Indah Kiat Pulp and Paper Tbk after the companies admitted to their roles in the so-called AAA Club that allegedly fixed prices for photocopy and uncoated wood-free folio paper for more than three years in...
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