Steel manufacturer BlueScope Steel has been ordered to pay a $57.5 million penalty for attempting to fix prices for flat steel products supplied in Australia. The penalty ordered by the Federal Court today is the highest penalty ever imposed for cartel conduct in Australia. The Court also imposed a $575,000 penalty on BlueScope’s former general manager, Jason Ellis, which by Court order cannot be recovered from an insurance company. Justice O’Bryan said that “the conduct in the present case warrants a significant penalty to deter repetition by Mr Ellis and by others who may otherwise calculate that the rewards from ... (full story)