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Qteq fined $3.4 million for attempted cartel conduct, Australian court ruled

( March 26, 2026, 01:20 GMT | Official Statement) -- MLex Summary: Australian mining-services and equipment company Qteq and its former senior executive Simon Ashton will pay A$5 million ($3.4 million) and A$1 million ($694,000) respectively for attempting to contravene cartel provisions under the country's competition laws. In orders published on Thursday, the Federal Court of Australia said the penalties follow an April 2025 ruling that found the company and Ashton had engaged in attempted cartel conduct, including inducing cartel arrangements. In the orders, judge Robert Bromwich said Qteq and Ashton have 60 days to comply and that Ashton is “not to pursue any claim or accept any indemnity under any applicable insurance policy.”  In a separate statement, the Australian Competition & Consumer Commission said if companies try to make cartel agreements with competitors, they will be met with strong enforcement action, even if the attempts do not succeed.Statement follows. Orders and judgment documents are attached. ...

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