A Supreme Court judgement handed down last month related to the Commerce Commission’s cases against real estate agencies in Hamilton in connection with TradeMe fees for properties listed for sale. The Commerce Commission has to date secured $19m in penalties and the High Court will now determine the penalties for the remaining two agencies and two individuals.
This time next year it will be a criminal offence to enter into a cartel arrangement in New Zealand. This aligning New Zealand competition law with that of Australia and other trading partners.
Under the Takeovers Code (Code), a person and their associates are prohibited from becoming the holders or controllers of 20% or more of the voting rights in a company with 50 or more shareholders and 50 share parcels (Code Company), except in a manner permitted by the Code.
As the M&A landscape continues to shift towards equilibrium after the GFC, recent international trends have emerged in the New Zealand market. Specifically, the increased use of:
• locked box pricing mechanisms;
• warranty and indemnity insurance; and
• the "fundamental warranty" exclusion for vendor warranty limitations.