HGV manufacturer DAF has reached a settlement with over 1,000 Dutch victims of the truck cartel case, reports Dutch Association for Transport and Logistics TLN. The settlement was reached with NLtruckkartel, an initiative of TLN and transport insurer TVM that represents the interests of thousands of customers of the former cartel participants.
“The negotiation result now achieved is exclusively with DAF, which is prepared to pay a reasonable compensation,” writes NLtruckkartel. “DAF’s trucks will now be removed from the proceedings, while the proceedings against the other manufacturers will continue unabated. Because both NLtruckkartel and DAF are still involved in other proceedings — but no longer with each other — no further amounts or details of the settlement will be released.”
TLN and TVM say they are “satisfied” with the result and “appreciate the cooperation with DAF in reaching a joint solution.”
“We have always strived for a reasonable solution for our members: time and speed play an important role. But reasonableness also means an acceptable settlement. We have been working on this case for eight years now and I am afraid that the end of the case is not yet in sight. I am therefore satisfied that DAF was the first to be willing to come to the negotiating table. This means that a concrete payment is still on the table this year for the more than 1,000 buyers of DAF trucks that we represent in this procedure,” says TLN chairman Elisabeth Post.
Michel Verwoest, Chairman of the Board of Directors of TVM, adds:
“Together with TLN and Hausfeld, we have now achieved a first important result by settling with DAF. We are proud that a good arrangement has been made for our affiliated legal expenses insured members and the sector. This collective scheme is a milestone for the transport entrepreneurs affiliated with NLtruckkartel and is a great boost for the sector.”
DAF previously settled for an undisclosed amount with Deutsche Bahn, which had filed a case with forty other companies. To finance that and other settlements, parent company Paccar last set aside $600 million.
The settlement only applies to companies that have signed an agreement with NLtruckkartel for their DAF trucks. It is no longer possible for companies to sign up with NLtruckkartel.
