Amcor-Cadbury cartel deal ‘must complete tomorrow’: reports

Cadbury had intended to sue the packaging supplier for AUS$236m (£116m) for losses it believed it suffered during Amcor’s alleged four-year cartel with Visy in the Australian market, in a case due to begin last month.

But on the day the case was due to begin Amcor revealed that an eleventh-hour out-of-court settlement had been reached. 

However, reports in the Australian press suggest the deal has not yet been finalised. Justice Michelle Gordon is reported to have told both parties yesterday that if a resolution was not reached by Friday afternoon, then the trial would go ahead as of Monday. It is reported that the trial could last 12 weeks.

Website Business Day reported that Cadbury’s counsel Michael Wyles yesterday told Justice Gordon that there was still one outstanding matter between Cadbury and Amcor in discussions over the out-of-court settlement.

Amcor’s barrister, Matthew Dark, is reported to have said that a resolution was “clearly close”, although the judge is reported to have clearly stated : “Friday is the deadline”.

News that the deal has not been hammered out in its entirety comes two weeks after Amcor and Cadbury initially announced that they had reached an agreement on the day that the trial was due to start.

Cadbury and Amcor were unavailable for comment this morning.

Popular Articles