Commerce Commission settles CHH timber claimFriday 11 Nov 2011 The NZ Commerce Commission has agreed to a settlement with Carter Holt Harvey Limited (CHH) which ends civil proceedings brought by the Commission under the Fair Trading Act.The Commission’s proceedings related to the sale and marketing of Laserframe timber by CHH between 1998 and 2003. CHH claimed that its Laserframe timber had the structural characteristics of MGP10 timber, meaning it complied with the requirements of AS/NZS Standard 1748:1997. The Commission alleged some of the timber did not comply with the Standard. In October 2006, CHH pleaded guilty to criminal charges brought by the Commission, and was fined $900,000. The Commission then filed civil proceedings to recover the losses that the Commission alleged had been suffered by competitors and customers who purchased the timber. As a result of the settlement of the case CHH will make a voluntary ex gratia payment of $1.5 million to a project relating to the restoration and rebuilding of Christchurch following the earthquakes. More >>
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