Visy To Shell Out $36M For Devising Box Cartel

Law360, New York (October 8, 2007, 12:00 AM EDT) -- Australian business giant Richard Pratt and his packaging company Visy Industries Ltd. will reportedly shell out close to $36 million for creating a cardboard-box cartel. It is the highest fine the country’s watchdog has ever levied.

Visy and two units have agreed to pay over $27 million (AUS $30 million) in penalties for scheming with packaging rival Amcor Ltd. to rig the cardboard-box market, Australian Financial Review reported on Monday, citing legal sources.

Pratt, Australia’s third-richest man, and Harry Debney, Visy’s chief executive, will also face...
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