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9 Dec 2019 13:35
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  •   Home > News > Business

    An Auckland company owned by property investment guru Ron Hoy Fong has been ordered to pay 400 thousand dollars

    An Auckland company owned by property investment guru Ron Hoy Fong has been ordered to pay 400 thousand dollars


    Ronovation Limited gave people guidance on the residential real estate market - but has admitted to price fixing in the High Court at Auckland.

    In 2011, Hoy Fong developed rules to keep his clients from competing against each other.

    Justice Sarah Katz says Ronovation's rules were deliberately anti-competitive and designed to suppress competition to the detriment of vendors.

    © 2019 Newstalk ZB, NZCity


     Other Business News
     09 Dec: House-buying conditions are expected to stay reasonable through to mid-2020
     09 Dec: A2 Milk's had 860-million-dollars wiped off its value after the shock resignation of its chief executive
     09 Dec: John O'Neill has reportedly been approached to return to Rugby Australia yet again, but this time as chairman
     09 Dec: Thousands of Auckland commuters will have to find an alternative way to work this morning
     08 Dec: China's exports unexpectedly fell 1.1 per cent in November from a year earlier
     08 Dec: Parts of the South Island telecommunications network are still down following severe weather
     08 Dec: Mobile outages, flooding and road closures - the impacts of the weekend's heavy rain is being felt by many throughout the South Island
     Top Stories

    RUGBY RUGBY
    New Zealand Rugby's old sparring partner could be poised for a return to Rugby Australia More...


    BUSINESS BUSINESS
    House-buying conditions are expected to stay reasonable through to mid-2020 More...



     Today's News

    Law and Order:
    Three people face the prospect of jail time over allegedly dumping an east Auckland golf course's sewage 13:27

    Cycling:
    Scotty Hopson's inclusion in the Breakers side tonight comes at the expense of Glen Rice Junior 13:07

    Health & Safety:
    New Zealand's High Commissioner to the Cook Islands has died 12:47

    International:
    Anatomy of an epidemic: How measles took hold of Samoa 12:07

    Rugby:
    New Zealand Rugby's old sparring partner could be poised for a return to Rugby Australia 11:57

    Politics:
    Workers are out at the most sodden areas of the South Island, trying to get communication lines back up and running 11:07

    Business:
    House-buying conditions are expected to stay reasonable through to mid-2020 10:57

    Living & Travel:
    Artist snacks on $US120,000 banana taped to wall in Art Basel gallery 10:57

    Business:
    A2 Milk's had 860-million-dollars wiped off its value after the shock resignation of its chief executive 10:47

    Environment:
    Big concerns from Westland's mayor as his region is hammered... yet again 10:27


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