SynopsisBlueScope Steel has announced its decision to appeal a Federal Court order that imposed a penalty of A$57.7 million ($37.03 million) for alleged price-fixing in the supply of flat steel products. The order follows a previous ruling against the company for cartel conduct. BlueScope intends to contest the penalty, emphasizing its commitment to legal recourse.ArticleBlueScope Steel, a prominent steel producer, has chosen to appeal a Federal Court order issued last month. This order mandated the company to pay a substantial penalty of A$57.7 million ($37.03 million) for its alleged involvement in price-fixing related to the supply of flat steel products in Australia.The Federal Court's decision in December had previously ruled against BlueScope in a case involving cartel conduct in the flat steel products supply chain. The court's findings implicated BlueScope and its former general manager of sales and marketing in attempting to persuade distributors within Australia and an overseas manufacturer to enter into agreements with provisions for price-fixing. These attempts were said to have occurred between September 2013 and June 2014.In response to the recent order, BlueScope has taken legal action by filing a notice of appeal. The company has not provided additional comments on the matter at this time.ConclusionBlueScope Steel's decision to appeal the Federal Court's penalty order reflects the company's determination to challenge the allegations of price-fixing. The case revolves around actions taken in the flat steel products supply chain between 2013 and 2014. As the legal proceedings continue, BlueScope remains committed to addressing the issue through the established legal channels.
SynopsisBlueScope Steel has announced its decision to appeal a Federal Court order that imposed a penalty of A$57.7 million ($37.03 million) for alleged price-fixing in the supply of flat steel products. The order follows a previous ruling against the company for cartel conduct. BlueScope intends to contest the penalty, emphasizing its commitment to legal recourse.ArticleBlueScope Steel, a prominent steel producer, has chosen to appeal a Federal Court order issued last month. This order mandated the company to pay a substantial penalty of A$57.7 million ($37.03 million) for its alleged involvement in price-fixing related to the supply of flat steel products in Australia.The Federal Court's decision in December had previously ruled against BlueScope in a case involving cartel conduct in the flat steel products supply chain. The court's findings implicated BlueScope and its former general manager of sales and marketing in attempting to persuade distributors within Australia and an overseas manufacturer to enter into agreements with provisions for price-fixing. These attempts were said to have occurred between September 2013 and June 2014.In response to the recent order, BlueScope has taken legal action by filing a notice of appeal. The company has not provided additional comments on the matter at this time.ConclusionBlueScope Steel's decision to appeal the Federal Court's penalty order reflects the company's determination to challenge the allegations of price-fixing. The case revolves around actions taken in the flat steel products supply chain between 2013 and 2014. As the legal proceedings continue, BlueScope remains committed to addressing the issue through the established legal channels.
