2011 Annual Report - The Commerce Commission

Table 2: Cases Successfully Disposed Of in 2011(cont…)Cases Resolved in 2011Case Number Case Name Issues Part of CCD 2010 ProvisionsBreachedCases Closed in 20112011/11/14/BC-FTD/263Consumer Wvs. InstitutionAOn 14-11-11, the Commission received a request for interpretation andadjudication from Consumer W concerning Institute A’s “Promise to Pay”.The Complainant secured a $4.6million contract from a foreign entity in2010. In its back ground of default, the company owed Consumer W inexcess of $4.0million. On 18-11-11, Consumer W received a Letter ofUndertaking from Institution A stating that the bank had been instructed bytheir customer B to transfer 60% of the proceeds from the Foreign EntityFunded Rehabilitation of the Rubbish Dump project directly to Consumer W.The transfer was to be effected subject to Institute A being made aware thatthe funds have been credited to the complainants account and there wasavailability of the funds. Institution A transferred 60% of the proceeds toConsumer W. However, the transfer was stopped when the CompanyDirector passed away on 13-10-11. Consumer W had questioned the nonpaymentof 60% by Institution A and whether FCC had any jurisdiction toadjudicate and interpret the “Promise to Pay”. On 17-11-11, theCommission had a meeting with Consumer W and details of the complaintwere provided. A Legal opinion on the matter was provided and it wasdetermined that the issue did not fall within the jurisdiction of theCommission and the Reserve Bank of Fiji or the Court of competentjurisdiction were the appropriate authorities to look into such issues. Theabove was relayed to the complainant and the case was closed.No Breach of Commerce CommissionDecree 2010Page115of236