Former Murray Goulburn boss Gary Helou fined $200,000 following Federal Court settlement approval

6 December 2018

Clint Jasper, ABC Rural
6 December 2018

The Federal Court has approved a settlement reached between Murray Goulburn and the Australian Competition and Consumer Commission (ACCC) which will see its former managing director hit with a $200,000 fine.

The Federal Court’s approval of the settlement also saw Murray Goulburn declare that it too breached Australian Consumer Law, however no financial penalties were sought from the former dairy processor.

The ACCC launched proceedings against Murray Goulburn last year, alleging it had engaged in unconscionable conduct and made false or misleading representations in breach of Australian consumer law.

In April 2016, after months of promising to raise the farmgate milk price, Murray Goulburn suddenly and retrospectively slashed milk prices, stunning its suppliers and leaving many hundreds of thousands of dollars in debt.

Read the full article here.