Greg’s Motor Spares denies ‘wrongdoing’
STAFF REPORTER
Greg’s Motor Spares, who agreed to pay the Namibian Competition Commission (NaCC) a full and final settlement of N$1.25 million after the watchdog investigated it for anti-competitive behaviour, continues to deny wrongdoing.
The Windhoek-based company with branches countrywide on Saturday issued this statement through its lawyers, Engling, Stritter and Partners, saying: “Greg’s Motor Spares continues to deny wrongdoing as alleged by the Namibian Competition Commission, but nevertheless elected to settle on the basis of an unintended contravention for various reasons, including the time wasted by its executive by trying to resolve the issue – to date and in subsequent litigation, the exorbitant costs of litigation, and an honest desire not to be engaged in litigation.”
The NaCC investigated Greg’s Motor Spares and found it entered into exclusive agreements which affords preferential rights, sole distribution rights, waiving of excess fees and rebates. As such the company contravened section 23(1) of the Competition Act.
Greg’s Motors Spares admitted that its conduct constituted “an unintended contravention” of the act, according to a Government Gazette published last Wednesday. Market Watch reported on the matter in its Friday edition.
According to the document, both parties agreed on 20 January 2022 to settle the investigation and high court proceedings in a full and final settlement.
Greg’s Motors Spares has ceased its conduct and shall take all necessary steps to ensure that it does not engage in such conduct in future.
Although Market Watch gave Greg’s Motor Spares an opportunity to comment, the company “may disagree whether such opportunity was adequate given the timeframe and circumstances at play on the very day”, Engling, Stritter and Partners said.
Greg’s Motor Spares, who agreed to pay the Namibian Competition Commission (NaCC) a full and final settlement of N$1.25 million after the watchdog investigated it for anti-competitive behaviour, continues to deny wrongdoing.
The Windhoek-based company with branches countrywide on Saturday issued this statement through its lawyers, Engling, Stritter and Partners, saying: “Greg’s Motor Spares continues to deny wrongdoing as alleged by the Namibian Competition Commission, but nevertheless elected to settle on the basis of an unintended contravention for various reasons, including the time wasted by its executive by trying to resolve the issue – to date and in subsequent litigation, the exorbitant costs of litigation, and an honest desire not to be engaged in litigation.”
The NaCC investigated Greg’s Motor Spares and found it entered into exclusive agreements which affords preferential rights, sole distribution rights, waiving of excess fees and rebates. As such the company contravened section 23(1) of the Competition Act.
Greg’s Motors Spares admitted that its conduct constituted “an unintended contravention” of the act, according to a Government Gazette published last Wednesday. Market Watch reported on the matter in its Friday edition.
According to the document, both parties agreed on 20 January 2022 to settle the investigation and high court proceedings in a full and final settlement.
Greg’s Motors Spares has ceased its conduct and shall take all necessary steps to ensure that it does not engage in such conduct in future.
Although Market Watch gave Greg’s Motor Spares an opportunity to comment, the company “may disagree whether such opportunity was adequate given the timeframe and circumstances at play on the very day”, Engling, Stritter and Partners said.
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