Japan Power Cable Co. Fined $1.4M Over Australian Cartel

Law360, New York (April 5, 2013, 1:48 PM EDT) -- Japanese power cable supplier Viscas Corp. was fined AU$1.35 million ($1.41 million) Friday in an Australian federal court after the company admitted to taking part in a bid-rigging scheme, Australia's competition authority said.

The cartel fine, handed down Friday in a federal court in Adelaide, Australia, was announced by the Australian Competition and Consumer Commission in a statement. The penalty followed Viscas' admission that, in September 2003, it entered into an anti-competitive arrangement with Japanese and European suppliers of land cables in connection to a tender...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.