EU Truck Cartel action gathers momentum
September 13, 2017
Last year the European Commission fined five of the major truck manufacturers 2.9 billion Euros for colluding in a price-fixing cartel.
As a result, the Road Haulage Association, its legal counsel Backhouse Jones and Exchange Chambers are leading a group claim for compensation before Competition Appeal Tribunal in London.
The financial support for this group action is being provided by litigation funding experts Therium.
Almost 2000 hauliers have now signed up to the action and a further 650 have expressed and registered their interest. Those that have already signed up account for circa 120,000 vehicles over 6 tonnes purchased or leased during the Cartel period.
The claim is not limited to RHA members. All operators can join the claim and benefit from both a highly competitive funding arrangement and one of the largest litigation insurance policies ever placed in the UK.
The cartel operated for fourteen years between 1997 until 2001. During that time, 650,000 vehicles over 6 tonnes were either leased or sold to approximately 70,000 hauliers from 80,000 operating centres across the UK.
David Went, Mark Cawson QC and Stephen Connolly are all members of the commercial teams at Exchange Chambers.