KEY POINTS:
The Court of Appeal has upheld a High Court ruling that Infratil subsidiary NZ Bus Ltd breached the Commerce Act in attempting to buy a 74 per cent stake in Mana Coach.
The High Court ordered NZ Bus to pay $1.1 million in penalties and costs, but did not find Infratil liable as an accessory.
NZ Bus and Infratil appealed against the court's decisions on liability, penalty and costs, while the Commerce Commission appealed against the level of penalty and the decision not to impose liability.
The Court of Appeal has dismissed NZ Bus' appeal that it had not breached the Commerce Act, but all other issues were yet to be determined by the court.
