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8 Jan 2026 11:10
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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.

    © 2026 Newstalk ZB, NZCity

     Other Business News
     08 Jan: Warner Bros has again rejected a hostile takeover bid from media conglomerate Paramount, telling shareholders to stick with Netflix's rival offer
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     07 Jan: Dairy prices have risen for the first time in months
     07 Jan: Hunters and fishermen are welcoming more attention on public access to the great outdoors
     07 Jan: Retail New Zealand's Chief Executive says the closure of Australian retailer EB Games - would have a wide reaching impact
     06 Jan: Don't expect house prices to skyrocket this year, like they have in years prior
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    Warner Bros has again rejected a hostile takeover bid from media conglomerate Paramount, telling shareholders to stick with Netflix's rival offer More...


     Today's News

    		 Entertainment:
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     Accident and Emergency:
    One person's seriously injured after a glue drum exploded at an industrial site near Motueka 10:47

     National:
    Stephen Miller: portrait of Donald Trump’s ideologue-in-chief 10:37

     National:
    Why grieving a pet can be as hard as grieving a person 10:27

     Cricket:
    England's Jacob Bethell's clinging to hope of an improbable consolation win as an Ashes test prepares to enter a fifth day for the first time this series 10:27

     Entertainment:
    Sarah Shahi felt like she went through her split from her Sex/Life co-star Adam Demos twice 10:23

     National:
    Think society is in decline? Research gives us some reasons to be cheerful 10:17

     Living & Travel:
    X is facilitating nonconsensual sexual AI-generated images. The law – and society – must catch up 10:07

     Business:
    Warner Bros has again rejected a hostile takeover bid from media conglomerate Paramount, telling shareholders to stick with Netflix's rival offer 10:07

     Entertainment:
    Jamie Lynn Spears says her beauty secrets are "good lighting, tons of make-up and pounds of fake hair" 9:53

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