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20 Apr 2024 10:05
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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.

    © 2024 Newstalk ZB, NZCity

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     Top Stories

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    BUSINESS BUSINESS
    Why Japan is the only country where married couples must have the same surname More...


     Today's News

    		 Entertainment:
    Brian Cox has slammed Joaquin Phoenix's portrayal of Napoleon as "truly terrible" 9:40

     Soccer:
    The Wellington Phoenix have had a hiccup in the race to finish the regular season on top of the A League ladder, only managing a 1-all draw against the Jets in Newcastle as they missed a host of scoring opportunities, including a penalty in added time 9:37

     Motoring:
    Supercars drivers are gearing up to tackle a difficult track and wet conditions at Taupo Motorsport Park 9:27

     Auckland:
    Great North Road in Auckland's Grey Lynn has now reopened after a fatal crash this morning 9:27

     Entertainment:
    Prince Harry paid tribute to Princess Diana during a surprise virtual appearance for his green travel initiative 9:10

     Entertainment:
    Kelly Clarkson's ex-husband Brandon Blackstock is arguing her latest lawsuit against him should be dismissed 8:40

     Environment:
    What looks to be a serious leg injury to All Blacks hooker Asafo Aumua has detracted from an eighth-straight Super Rugby win for the Hurricanes 8:37

     Motorsports:
    McLaren's Lando Norris has nabbed pole position in a wet sprint qualifying session at Formula 1's Chinese Grand Prix 8:37

     Law and Order:
    A man who once threw a Molotov cocktail into Sir John Key's electorate office, has admitted setting the Huntly Railway Building on fire 8:17

     Entertainment:
    Olivia Munn says "nothing" could have prepared her for the emotional shock of seeing her body after she underwent a double mastectomy 8:10

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