Court stays RM367mil MyCC penalty against 4 feedmillers
Kuala Lumpur High Court says the firms have shown credible evidence that they will suffer irreparable harm if required to pay the penalty before the judicial review hearing.
Four feedmillers in Malaysia have been granted a temporary stay by the Kuala Lumpur High Court on a RM367 million penalty imposed by the Malaysia Competition Commission (MyCC). The court considered the impact the payment would have on the firms' liquidity and operations, as they are currently appealing the fine before the Competition Appeal Tribunal (CAT).
Justice Alice Loke stated that the balance of convenience and justice favored the feedmillers if they succeed in their judicial review. The four firms appealed the CAT's decision in February, and their appeals were dismissed. The MyCC fine, the largest in the commission's history, was imposed for allegedly forming a "chicken feed cartel" to fix prices on chicken feed between January 2020 and June 2022.
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Also reported by 1 other outlet
- Court stays RM367mil MyCC penalty against 4 feedmillers freemalaysiatoday.com
