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Date set for SX appeal

The Commerce Commission will argue its case against Southern Cross keeping 40,000 Aetna Health insurance policies in September.

Wednesday, May 23rd 2001, 7:36AM
The Commerce Commission's appeal against Southern Cross Healthcare retaining Atena Health's insurance policies will be heard in September.

Originally the commission ordered Southern Cross to sell all the policies as a condition of approving its third application to acquire Aetna.

However, the High Court reversed that ruling in a decision earlier this year.

The commission is appealing that decision which allows Southern Cross to keep hold of 40,000 health policies written by Aetna. The polices are worth about $70 million.

The commission originally argued that Southern Cross would have a dominant market position if it kept the policies. However, the court ruled otherwise, saying the barriers to entry in the market were low and there was plenty of competition.

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