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2 Jun 2020 0:20
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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.

    © 2020 Newstalk ZB, NZCity


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    BUSINESS BUSINESS
    The Government's backing a $27 million project that will see the horticulture, arable and wine industries work together like never before More...



     Today's News

    Law and Order:
    George Floyd protests flare in the US for another night, tear gas fired at crowd outside the White House, as it happened 22:37

    Rugby League:
    Warriors prop Agnatius Paasi Paasi has taken the early guilty plea and will miss Friday's NRL game against the Panthers 21:57

    Environment:
    Flood protection works near Thames have held firm despite a massive storm that has seen almost half a metre of rain fall on the area 21:17

    Law and Order:
    A video has emerged showing a man attacking a police officer before being pepper-sprayed and tasered in central Auckland 19:37

    Motoring:
    A serious crash just out of Christchurch has backed traffic up for nearly nine kilometres 18:57

    Politics:
    The Labour Party has selected a nursing leader to stand in East Coast Bays 18:07

    Rugby:
    A Constellation Cup around Christmas is unlikely, but plans are forging ahead for the four-test netball series to be held later this year 17:27

    Rugby League:
    ARL Commission boss Peter V'Landys has given a thumbs up to the NRL rule changes 17:27

    Business:
    The Government's backing a $27 million project that will see the horticulture, arable and wine industries work together like never before 16:57

    International:
    Stolen Generations survivor Aunty Lorraine has been healing her mob for 20 years 16:47


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