Andy Matthews & Gus Stewart recently contributed an article in the April 2015 edition of Antitrust News, the newsletter of the International Bar Association Legal Practice Division. The article covers:
– New Zealand’s new ‘unfair contract terms’ regime comes into force
– NZCC’s investigation into Air NZ’s ‘opt-out’ insurance results in a win for consumers
– NZCC settles for over NZD25m with three major banks in relation to interest rate swaps
On Thursday 30 April the Australian Competition and Consumer Commission (ACCC) announced that it will take no further action in respect of comments made by Andrew Forrest, Chairman of Fortescue Metals Group Ltd, about iron ore production. The ACCC commenced a review of Mr Forrest’s comments following an article in the Australian Financial Review on 25 March 2015 which reported Mr Forrest called for a cap on iron ore production at a business dinner in Shanghai on 24 March 2015.
The Commerce Commission (NZCC) has today declined an application from Reckitt Benckiser Group (RB), owners of the “Durex” brand, to purchase Johnson & Johnson’s “K-Y” brand and product assets. The acquisition had been approved by regulators in Australia, USA, Brazil, and Colombia, and a decision is scheduled to be made by the UK’s Competition and Market Authority in June.
The NZCC had been considering the proposed merger for almost a year – the longest merger investigation in recent memory.
Read more in our newsletter.
Andy Matthews has again been selected by his peers for inclusion in this year’s edition of The Best Lawyers in New Zealand®, in the practice area of Competition & Consumer Law. Andy was also named the Best Lawyers® 2016 Competition & Consumer Law “Lawyer of the Year” in Auckland.
Only a single lawyer in each practice area, in each community is honored as a “Lawyer of the Year.”
The New Zealand Commerce Commission can now seek a declaration from the courts that particular terms in standard form consumer contracts are unfair. If a business continues to use a term that the courts have declared unfair it may be convicted and fined up to $600,000 per offence under the Fair Trading Act, and ordered to pay damages or to refund money.
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Andy Matthews & Nicko Waymouth presented on New Zealand’s consumer law reform to an audience of legal practitioners at a LegalWise seminar this morning. The presentation primarily focused on the new “unfair contract terms” regime that comes into force on 17 March 2015, but also covered other recent amendments to the Fair Trading Act and Consumer Guarantees Act.
Consumer Law Reform Update Paper (Matthews – Waymouth) March 2015
Andy Matthews and Nicko Waymouth, Principal and Senior Associate at Matthews Law, have again been recognised as leading individuals (Competition/Antitrust – New Zealand) in Chambers Asia-Pacific’s 2015 Guide.
Andy maintains his “Band 1” ranking, which he has held since 2006. Nicko is among a select few ranked in “Associates to Watch”, a ranking he has held since 2012. Chambers notes:
p +64 9 972 3753 | m +64 22 100 1000 | e nicko.waymouth@matthewslaw.co.nz
We are delighted to announce that Nicko Waymouth has joined Matthews Law as a Senior Associate. Nicko is one of New Zealand’s most experienced competition (antitrust) lawyers, with particular expertise in mergers, cartel work and consumer protection/marketing law. He has been ranked as an “Associate to watch” in leading lawyers directory Chambers Asia-Pacific since 2012.
A recent article written by Gus Stewart and Andrew Matthews for the CPI Antitrust Chronicle.
CPI Antitrust Chronicle – The intersection of advertising and antitrust in New Zealand (final) July 2014
Article written by Andrew Matthews and Gus Stewart of Matthews Law. Coverage includes; Countdown investigation, packaging cartel, timber cartel and modernisation of Fair Trading laws.
Antitrust_newsletter_April_2014
p +64 9 972 3755 | m +64 21 161 8111 | e gus.stewart@matthewslaw.co.nz
Matthews Law is delighted to announce the arrival of Gus Stewart as an associate, advising on competition, regulatory, telecommunications, TMT and consumer protection law. He previously worked as an in-house counsel at 2degrees and solicitor at Minter Ellison Rudd Watts.