http://www.theaustralian.news.com.au/business/story/0,28124,25688...

http://www.theaustralian.news.com.au/business/story/0,28124,25688348-5018021,00.html

The Australian Consumer and Competition Commission sued a number of former Patrick companies - now owned by Toll Holdings and Asciano - claiming they had unlawfully colluded with P&O Ports, now owned by DP World, in 2001 and 2002.

The conduct related to the supply of automative terminal services in Port Jackson in Sydney, Port Melbourne and the Port of Brisbane.

Former Patrick boss Chris Corrigan, who was also named in the suit, was scathing of the ACCC when the case was launched last year.

This morning the Federal Court heard the parties had agreed a "statement of facts''.
Stevedores and DP World Australia have agreed to pay fines of $1.9 million each.

Each company faced fines of up to $10 million.

"Patrick and P&O admit for the purpose of these proceedings only that the conduct they respectively engaged in during the relevant period...had the likely effect of substantially lessening competition ... in the three ports,'' the statement of facts says.

A lawyer for the ACCC said the settlement would avoid a lengthy and costly court dispute.

Federal Court judge Peter Jacobsen has yet to approve the settlement and reserved his decision this morning. It is up to the court to formally rule on whether a contravention occurred and what fine is appropriate in the circumstances.

The settlement only relates to the Patrick and P&O companies although it is noted that "the conduct admitted by Patrick and P&O was carried out by senior management employed at the relevant time. None of the individual executives involved in the conduct remain in the employ of Patrick, or any or the Asciano owned group of companies, or any of the P&O companies owned by DP World".