image of Elizabeth RichmondElizabeth Richmond

Clayton Utz Partner , Sydney T +61 2 9353 4823

Elizabeth Richmond brings "an excellent eye for detail" which she uses "to provide advice without losing the bigger picture" in a range of competition regulatory matters, particularly high-profile competition investigations into alleged cartel arrangements and in general dispute-related matters.

Elizabeth's work in competition law beyond investigations and litigation falls into two main categories: merger clearance and structuring arrangements. Elizabeth has guided clients through the merger clearance processes of the ACCC and achieved considerable notable success. She also works with clients to advise on the structuring of collaborative arrangements within the bounds of competition law, to ensure arrangements do not raise anti-competitive concerns, especially for clients in the gas, energy and electricity sectors. This work includes advising on issues such as pricing, distribution and reseller agreements, agency arrangements, and joint venture arrangements. Elizabeth also advises clients generally on consumer protection matters.

Elizabeth is increasingly prominent in the competition market and has recently been recognised by the Global Competition Review as a Leading Woman in Antitrust. Her knowledge of the stresses and pitfalls of an unexpected regulatory investigation inspired and shaped the Clayton Utz innovative Dawn Raid app, which gives clients a step-by-step guide to dealing with a dawn raid as it happens.

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Merger Clearance

In addition her work in competition advisory in advance of potential transactions, Elizabeth has acted for a number of clients with respect to clearance applications to the ACCC. She has acted for both targets and acquirers in the context of these applications. To the extent that matters are in the public record a listing appears below:

  • Alstom's proposed acquisition of Bombardier Transportation (acted for the majority shareholder in Bombardier) (2020)
  • Pacific National's proposed acquisition of the Acacia Ridge Terminal from Aurizon (2018)
  • Pacific National's proposed acquisition of certain assets and interests of Glencore Rail (2016)
  • Seven West Media Limited's proposed acquisition of The Sunday Times publication and website from News Limited (2016)
  • Sonic Healthcare Limited's proposed acquisition of Healthscope Limited pathology business in ACT / Southern Tablelands (2013)
  • Sonic Healthcare Limited's proposed acquisition of pathology businesses of Healthscope Limited in Queensland and Western Australia (2012)
  • Custom Coaches Pty Limited's proposed acquisition of Volgren Pty Limited (2011)
  • The Valspar Corporation's proposed acquisition of Wattyl Limited (2010)
  • Constellation Brands Inc and Australian Vintage Limited proposed merger (2010)

See Merger Clearance


Elizabeth regularly advises on competition questions, strategy, structuring issues, and transactional matters where they intersect with the Australian Competition and Consumer Act 2010 (Cth). This has included from time to time, seeking authorisation from the ACCC for coordinated conduct between competitors, advising on investigations and inquiries including confidential immunity matters, providing advice on joint venture agreements, exclusivity provisions and other transactional documentation and advising on the interpretation and application of the competition laws and regulations, as well as other regulatory matters.

Elizabeth's clients tend to be involved in essential infrastructure and ancillary activities (ports, logistics and rail companies, banks, energy and mining entities).

See Competition

Competition law enforcement, cartels and dawn raids

Elizabeth has extensive experience in competition investigations, litigation and enforcement action taken by the ACCC and other regulators, including follow on class action litigation, including in relation to alleged criminal cartel conduct. Some of Elizabeth's litigation experience in courts of first instance, and in appeal courts, is set out below.


  • J Wisbey & Associates Pty Limited v UBS AG & Ors (VID567/2019)
  • Commonwealth Director of Public Prosecutions v Wallenius Wilhemsen Ocean AS (NSD1356/2019)
  • Vodafone Hutchison Australia Pty Limited v Australian Competition and Consumer Commission (NSD818/2019)
  • Australian Competition and Consumer Commission v Pacific National Pty Limited & Ors (VID864/2018); (VID695/2019); and (M60/2020) (HCA)
  • Australian Competition and Consumer Commission v Colgate-Palmolive Pty Ltd & Ors (NSD2510/2013)
  • Australian Competition and Consumer Commission v Renegade Gas Pty Ltd (trading as Supagas NSW) ACN 074 008 496 & Ors (NSD1239/2012)


  • Australian Competition and Consumer Commission v Korean Air Lines Co. Ltd (NSD220/2010)
  • Australian Communications and Media Authority v Gotalk Communications Pty Limited (NSD186/2010)
  • Australian Competition and Consumer Commission v Cardcall Pty Limited (NSD314/2009)
  • Australian Competition and Consumer Commission v Prysmian Cavi E Sistemi Energia S.R.L. (Formerly Pirelli Cavi E Sistemi Energia S.P.A.) & Anor (SAD145/2009); and Nexans SA RCS Paris 393 525 852 v Australian Competition and Consumer Commission (SAD314/2012); and (SAD15/2014)
  • Australian Competition And Consumer Commission v Toll (PRK) Ltd (Formerly known as Patrick Corporation Ltd and also as Lang Corporation Ltd (NSD1703/2007)
  • De Brett Seafood Pty Ltd & Anor v Qantas Airways Limited & Ors (VID12/2007)
  • Australian Competition & Consumer Commission v April International Marketing Services Australia Pty Ltd & Ors (NSD2394/2006); and (NSD1162/2010)

See Competition law enforcement, cartels and dawn raids


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