A property firm has been fined half a million dollars over its anti-competitive covenant on a site near Mitre 10 Mega Tauranga
A property firm has been fined half a million dollars over its anti-competitive covenant on a site near Mitre 10 Mega Tauranga
31 July 2023
It was placed by NGB Properties Limited, the sister company of the Mitre 10 operator, Juted Holdings Limited.
Commerce Commission Chair, John Small, says covenants harm competition.
He says in this case it was intended to stop Bunnings building nearby, depriving consumers of a more competitive market.
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