If successful, possibly more than 10,000 euros per truck.
For companies that bought or leased heavy or medium-duty trucks from the manufacturers Daimler, MAN, Volvo / Renault, DAF, Iveco, or Scania between 10/2005 and 12/2014, there is a prospect of receiving a substantial amount of compensation amounting to several thousand euros.
For affected companies, LitFin offers risk-free participation in a lawsuit in Germany or an attractive buy-out opportunity.
Our offer to clients is based on a choice between two alternatives:
1) Financing your claims: LitFin assumes all process costs and the entire process management and only receive a commission in the event of success.
For the truck owner this means:
•Higher possible compensation
2) Buy-out of your claims: If you’re not willing to wait or don’t believe the decision will be favorable, we can agree on buying out your claims from you.
For the truck owner this means:
•Guaranteed compensation right away
•No waiting for the final court decision
With two decisions in July 2016 and September 2017, the European Commission imposed record fines totaling around 3.8 billion euros on the major European truck manufacturers Daimler, MAN, Volvo / Renault, DAF, Iveco and Scania.
Between 1997 and around the beginning of 2011, the manufacturers made agreements in violation of antitrust law on prices and gross price increases for the heavy and medium-duty trucks they manufactured and sold in the European economic area. In addition, the cartel members made agreements on the schedule and the transfer of costs for the emission protection standards Euro 3 to 6.
MAN had uncovered the cartel as a key witness. The truck manufacturers have admitted the allegations and accepted the fines in a settlement procedure with the European Commission. Scania is the only manufacturer still suing the European courts against the fine.
LitFin is successfully leading a truck cartel class action in the Netherlands where we submitted claims for more than 25,000 trucks. Unfortunately, according to Dutch law, the claims are most probably time-barred already, but, LitFin decided to give clients another chance to claim compensation in Germany.
LitFin will initiate the lawsuit in Germany. German courts are one of the most frequently used for antitrust claims for damages. Compared to other jurisdictions, the German supreme court already issued a favorable partial decision on the Trucks cartel case (judgment KZR 35/19). Therefore, if you choose to partner with us and have a valid contract, you may receive compensation in a year or two.
Our legal proceedings are conducted by the renowned law firm MMG Rechtsanwaltsegesellschaft from Munich (www.mmg-bg.de).
Participation in our lawsuit in Germany is easy:
Choose between the buy-out and claim financing options.
Provide us with evidence of the purchase/lease of your vehicles.
We’ll take care of everything else.
However, pay attention!
According to German law, the range of claimable trucks is getting smaller every month. Therefore, it is best to submit your claims as soon as possible to access the widest possible time period.
LitFin specialises as a litigation financier in complex legal disputes and in particular in antitrust damage proceedings.
We have a diverse portfolio of clients. Our clients range from small businesses to large international corporations, they come from a wide variety of industries, and span across all of Europe. Besides the Truck Cartel case, we are also funding other projects such as the German Toll case and the Pesticide Cartel case.
LitFin itself is structured as a private alternative investment fund with a cap of 100 million euros and is registered with the Czech National Bank in Prague.
Only three years since its inception, LitFin has been ranked for in the Chamber and Partners Litigation Funding guide. This puts us among the best funders in the EU.
Visit Litfin.co.uk for more information.
We offer you a reliable and tested litigation procedure in Germany that is quick and effective. Our Truck Cartel case in the Netherlands is one of the largest lawsuits against the Truck Cartel in Europe, with a volume of more than 250 million euros.
The lawsuit that we are currently preparing in Germany will benefit from our management of the ongoing proceedings and our acquired experience. Our German lawsuit is being led by the renowned law firm MMG Rechtsanwaltsgesellschaft.
The German court system has been named as one of the top five most effective court systems in the world (WorldJusticeProject). Judgments from German courts are known to be effective and enforceable.
According to Dutch Law, the truck cartel case has been time-barred. This is the case for many other EU countries as well. However, in Germany, the time period is expiring in 03/2022. Therefore, it is one of the last jurisdictions where truck owners can still get compensation.
Our litigation is being conducted by the renowned cartel law firm MMG Rechtsanwaltsgesellschaft which comprises many experiences specialists in litigation and antitrust law in Germany.
A lawsuit is only promising if it is supervised by specialized lawyers and competition economists. Such specialists are very expensive (usually 6 digits for a procedure), which is why an isolated claim is usually only worthwhile for very large amounts of compensation.
The lawsuits of individual, small customers against the truck cartel, which so far failed in Germany, were often carried out by non-specialized law firms. In addition, if you go directly to a lawyer, you usually have to pay the high costs.
The lawsuit is going to be filed in the German courts which are known to give very effective and enforceable judgments.
The statute of limitations in Germany is more generous than other jurisdictions. Therefore, numerous claims that have already expired elsewhere, for example in the Netherlands, can still be pursued in Germany.
The lawsuit is represented by the renowned and specialized law firm MMG Rechtsanwaltsgesellschaft. The experts at MMG Rechtsanwaltsgesellschaft are experienced in antitrust law and familiar with the case itself.
The lawsuit is being financed by an established litigation financier (LitFin) at attractive participation conditions.
Due to the nature of litigation finance, the process is risk-free for the client. In the event of an adverse judgment, LitFin takes care of all the costs of the litigation and the client doesn’t pay anything.
LitFin plans to file the lawsuit in the first quarter of 2022.
Such procedures regularly take 2-3 years. Experience has shown that an agreement is often reached beforehand. In particular, this short process duration is one of the main advantages of our proceedings in Germany because the German courts are already familiar with the Truck Cartel case.
We will contact you either by phone or email and make an e-appointment by phone. We talk through the process and details of the procedure. You will then receive all relevant information and documents in writing so that you can decide whether to join the lawsuit or sell us your claims directly.
We check the documents we receive from you for completeness and plausibility. Unless we have any queries, we will either integrate your claims into our lawsuit or buy-out your claim at an agreed price per truck, depending on your choice. Of course, we will keep you informed about the status of the procedure.