Eagle M.A.N Group Limited (trading as Eagle MAN) has been ordered to pay a pecuniary penalty of $200,000 in the Christchurch High Court for providing high-cost loans which breached multiple aspects of the Credit Contracts and Consumer Finance Act (CCCFA) in the Commerce Commission’s first case enforcing rules applying to high-cost lenders.
The Commerce Commission has filed proceedings in the High Court against former high-cost lender Eagle M.A.N Group Limited (Eagle MAN), alleging it breached the Credit Contracts and Consumer Finance Act (CCCFA) when providing credit to borrowers between 2015-2022.
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The Commerce Commission has completed a review into high-cost lenders following the introduction of specific high-cost lending rules in 2020 under the Credit Contracts and Consumer Finance Act (CCCFA).
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The High Court in Auckland has today ordered Swiss company Kuehne + Nagel International AG to pay a penalty of $3.1 million plus costs for breaches of the Commerce Act. Kuehne + Nagel’s penalty brings the total penalties ordered in this case to $11.95 million and sends a strong message to the business community that cartel behaviour is unacceptable.
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The Commerce Commission has filed proceedings in the High Court in Auckland against a number of companies accused of anti-competitive conduct in the freight forwarding market.
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