The Federal Court has ordered former Murray Goulburn Co-op managing director, Gary Helou to pay $200 000 in penalties in relation to the 2016 milk price crash.
The co-op admitted to making false or misleading representations to farmers in Victoria, South Australia and southern New South Wales on 29 February 2016, and subsequently until 27 April 2016, that it could maintain its opening milk price of $5.60/kgms.
Mr Helou has admitted he was involved in the misleading representations made by the dairy processor.
ACCC Deputy Chair Mick Keogh said the penalty reflected Mr Helou's seniority at the co-op and his involvement in misleading representations about the farmgate milk price.
See next week's Country News for more.