Photo by: Duane Daws
The Competition Tribunal on Monday confirmed all but two of the construction settlement agreements between the Competition Comission and 15 major construction firms.
Last week, the tribunal heard the settlement agreements between the commission and the construction firms, which, in June, agreed to pay penalties totalling a collective R1.46-billion for collusive tendering in contravention of the Competition Act.
In terms of the Act, the tribunal must confirm a settlement agreement between the commission and a respondent in order for the settlement to be legally enforceable.
The tribunal had confirmed the settlements between the commission and Basil Read, Esorfranki, G Liviero, Haw & Inglis, Hochtief, Murray & Roberts, Norvo, Raubex, Rumdel, Stefanutti Stocks, Tubular Technical Construction, Vlaming and Wilson Bayly Holmes-Ovcon.
However, it had not yet confirmed the R306.58-million settlement agreement between the commission and Aveng or the R3.55-million settlement between the commission and Guiricich Bros Construction, as it was still awaiting outstanding information on these agreements.