In 2017, CDC filed a legal action in the Netherlands enforcing claims for damages resulting from the Europe-wide trucks cartel. The action was filed before the District Court of Amsterdam.
Background and facts
On 19 July 2016, the European Commission announced that it had fined manufacturers of medium and heavy duty trucks over EUR 2.93 billion for their participation in a price fixing trucks cartel covering the entire European Economic Area and lasting 14 years from 1997 to 2011 (Case COMP/39824 – Trucks). The Commission found the following companies to have participated in the cartel and these companies have acknowledged their participation:
On 27 September 2017, the Commission subsequently imposed a fine on Scania of €880 million. According to the Commission, the trucks cartel consisted of collusive arrangements on pricing and gross price increases in the EEA for medium and heavy trucks, and the timing and the passing on of costs for the introduction of emission technologies for medium and heavy trucks required by EURO 3 to 6 standards. The cartel is likely to have illegally and artificially increased the prices of trucks throughout Europe. Purchasers of trucks are likely to have been overcharged by the truck manufacturers as a result.
Any person or business affected by the trucks cartel is entitled to full compensation. Given the long period of the cartel and the fact that victims can claim interest as of the day on which the damage occurred, even companies with a relatively low number of trucks may have suffered significant damages as a result of the trucks cartel.
Further information on the trucks cartel:
- Commission press release on the Trucks Cartel 19/07/2016 (EN)
- Commission decision on the Trucks Cartel 19/07/2016 (EN)
On 12 July 2017, CDC Retail, a company of the CDC group, initiated legal proceedings against MAN, Volvo/Renault, Daimler, Iveco, and DAF for damages resulting from their participation in the European trucks cartel. The action was filed before the District Court of Amsterdam, the Netherlands. CDC Retail is represented by the law firm Van Benthem & Keulen.
Prior to the filing of the legal action, over 200 companies and individuals located across Europe, including large and renowned firms sold and assigned their damage claims to CDC Retail resulting from the European trucks cartel. CDC Retail now enforces them under its own name and on its own account using CDC’s technical and economic expertise. All purchasers and leasers of trucks over six tonnes during the years 1997 to 2011 (and possibly after) are entitled to claim compensation from the truck manufacturers for the damage sustained. The flexible laws of the Netherlands allow other purchasers of trucks to join the action. CDC’s case is the most far advanced case in the Netherlands in relation to the trucks cartel. Companies damaged by the cartel that are interested in obtaining fair compensation and selling their claims should contact CDC for further information.
Further information on the civil proceedings:
- CDC press release on initiation of damages action against trucks cartel 31/07/2017 (EN)
- Members of four German trade associations assign their damage claims against the truck cartel to CDC (EN) (DE)
Advantages of CDC
- Case taken in CDC’s own name and at its own risk
- Unrivalled experience and know-how
- Outstanding track record
- Significant synergies in the claims enforcement process
- Stronger negotiating power
- Expertise in economics, statistics and computer programming
- Specific expertise and know-how in claiming antitrust damages
- Access to market-wide data and information
- Cooperation with the best litigators and economic experts
- Independence ensures true alignment of interests between CDC and damaged companies
- Choice of the most suitable national jurisdiction for the case at hand
- Prepared to take the case all the way
- No settlements at unfair conditions
- Funding secured for entirety of the damage action
- Possibility of significant upfront payments to damaged companies
- Damaged companies incur no costs and no adverse cost risk
About CDC Cartel Damage Claims
CDC is the first mover and leading company in Europe specialising in corporate claims for damages resulting from the infringement of EU or national competition law. CDC is exclusively active in the economic analysis, management and enforcement of damage claims relating to competition law infringements and has accomplished unrivalled success in its 15 years of highly specialised activity, including having achieved multiple multi-million Euro settlements and landmark judgments in some of the largest antitrust damage actions in the EU.
CDC Cartel Damage Claims
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CDC Cartel Damage Claims
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