6 April 2004: The Federal Court, Brisbane, ordered a former general manager of Chaste Corporation to pay a personal penalty of $25 000 for his involvement in resale price maintenance in the promotion and selling of the TRIMit weight-loss product.
Mr Xenoudakis admitted that he recruited area managers to enter into agreements with Chaste stating that Chaste would be responsible for setting the price at which area managers sold TRIMit to retailers and that there would be no discounting or price cutting. He further admitted that he represented Chaste as a good business opportunity, while deliberately concealing the involvement of Mr Peter Foster in the company.
The ACCC's case against Chaste (in liquidation), Mr Peter Foster and six other respondents continues.
Full copies of the orders made and the judgment are available on the Federal Court's website at www.federalcourt.gov.au.
