Don't allow banks to collude, New Zealand's Armourguard pleads with antitrust regulator
By James Panichi ( October 7, 2025, 05:59 GMT | Insight) -- Cash-delivery company Armourguard Logistics has urged New Zealand’s antitrust regulator to reject a bid by the country’s banks to establish what the company describes as a legal cartel designed to give the lenders “enduring … buyer power.” In a submission to the Commerce Commission, Armourguard said the authorization application filed by the New Zealand Banking Association to allow banks to work together in negotiating with the cash-in-transit company was a bid to “collude for 11 years in an already problematic industry.”Armourguard Logistics has urged New Zealand’s antitrust regulator to reject a bid by the country’s banks to establish what the monopoly provider of cash-delivery services describes as a legal cartel designed to give the lenders “enduring … buyer power” to be deployed against the company....
Prepare for tomorrow’s regulatory change, today
MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.
Know what others in the room don’t, with features including:
- Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
- Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
- Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
- Curated case files bringing together news, analysis and source documents in a single timeline
Experience MLex today with a 14-day free trial.