NYK Fined $25M In Australia Over Vehicle Transport Cartel
Law360, New York (August 3, 2017, 6:47 PM EDT) -- The federal court of Australia on Thursday handed down a AU$25 million ($19.8 million) fine to Japanese shipping company Nippon Yusen Kabushiki Kaisha over its participation in a global cartel focused on the transportation of vehicles and its impact on the country.
The ruling marks the first successful prosecution under cartel provisions of Australia's Competition and Consumer Act established in 2010, according to the Australian Competition and Consumer Commission. The decision stems from a guilty plea entered in Australian court by NYK in July 2016 over cartel charges levied by the Australian Commonwealth Director of Public Prosecutions.
The CDPP accused NYK...
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