The Federal Court of Australia hands down its first decision involving a bid rigging case after the entry into force of new cartel laws (Norcast/Braken)

In July 2009 Australia's new cartel laws entered into force. On 19 March 2013 the Federal Court of Australia (Gordon J) handed down its first decision involving these new laws. Norcast S.ár.L(Norcast), a subsidiary of the private equity fund, Pala Investments Limited (Pala), alleged that Castle Harlan, Inc (Castle Harlan), another private equity fund, and Bradken Limited (Bradken) had entered into an arrangement whereby Castle Harlan would bid for the acquisition of Norcast's subsidiary, NWS, and Bradken would not. Castle Harlan bid successfully for NWS and acquired it through its subsidiary, BC. Bradken Operations Pty Ltd (Bradken's subsidiary) then exercised rights, acquired pursuant to a Subscription, Governance and Purchase Agreement (SGPA), to acquire all shares in BC and thereby

Access to this article is restricted to subscribers

Already Subscribed? Sign-in

Access to this article is restricted to subscribers.

Read one article for free

Sign-up to read this article for free and discover our services.

 

PDF Version

Author

Quotation

Julie Clarke, The Federal Court of Australia hands down its first decision involving a bid rigging case after the entry into force of new cartel laws (Norcast/Braken), 19 March 2013, e-Competitions Bulletin March 2013, Art. N° 52518

Visites 487

All issues

  • Latest News issue 
  • All News issues
  • Latest Special issue 
  • All Special issues