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Estate agencies' price-fixing case sent to Competition Tribunal

HK Competition Commission, 14-Nov-2023

Midland (1200) and subsidiary HK Property Services, allegedly colluded with Centaline and its subsidiary Ricacorp to set a minimum net commission that buyers of first-hand homes would pay. Centaline/Ricacorp gave evidence and will not face action from CompComm, but could theoretically be sued by customers in a "follow-on" action, except that there has never been a follow-on action under this law because HK does not have a class-action system, so access to justice it is prohibitively expensive. The Govt appointed a committee to study that problem 11 years ago, including the current Chairman of CompComm, Samuel Chan Ka Yan. He told Webb-site recently that they haven't met in years.




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