On July 19, 2016, the European Commission imposed a record fine of € 2.9 billion on the biggest truck producers for antitrust violations, opening the way for compensation claims from customers that could entail the award of indemnities of several tens of thousands of euros for each truck purchased.
The Commission's decision (Case AT.39824 Trucks, Commission Decision of 19 July 2016) refers specifically to the market for medium trucks (weighing between 6 and 16 tons) and heavy trucks (more than 16 tons). MAN, Volvo / Renault, Daimler, Iveco and DAF together account for around 9 out of 10 medium and heavy trucks produced in Europe. A similar inquiry concerning Scania is still pending.
The European Commission has determined that any client who has been affected by these practices may bring actions before the courts of the respective Member-State for damages.
One Advice has teamed up with Rockmond to set up and manage a fund that aggregates indemnity rights, removing any litigation risk from the clients, which arises from the necessary legal proceedings.
This instrument, an innovation for the Portuguese market, the holders of indemnity rights deliver their claims’ management, and so all associated costs are borne by the Fund. The revenues obtained will be distributed mainly to the Client, who will thus only find advantages in the solution provided, without the associated risk.
Rockmond has already furthered the most difficult aspect of the litigation, which is the establishment of individual damages resulting from these sanctioned practices, and it is estimated that the indemnity values in the Portuguese market can be of upward from € 15,000.00, for each truck purchased.