Heating Oil Trade Association Works With Specialist Solicitors To Help UK Members Claim Damages Against Trucks Price Fixing Cartel – OilFiredUp

The trade association for the oil distribution industry in the UK and Republic of Ireland, FPS (Federation of Petroleum Suppliers) is assisting its members across the UK in making damages claims against truck manufacturers MAN, Volvo Renault, Daimler, Iveco, and DAF, who were found guilty by the European Commission (EC) in July 2016 of price fixing.

The FPS is now working closely with leading global law firm Hausfeld Solicitors to help its UK members, and the company is currently representing over 44 UK-based FPS members in making a claim against the manufacturers on a no-win no-fee basis.

“The EC’s five-year investigation into the European truck manufacturing industry concluded that five of the major firms were guilty of running a price fixing cartel across a 14-year period, from 1997 to 2011,” says FPS Chief Executive Guy Pulham.

“The cartel affected the pricing of trucks across the European Economic Area and was also found guilty of passing on costs linked with emission technologies needed to meet strict European standards. This is something that impacts all tanker owners, including our members.”

The EC imposed record-breaking fines on the five manufacturers of €2.9 billion, although MAN avoided any fines as it was the first to report the cartel. However, truck owners can still claim for the surcharges of MAN’s trucks in court.

Any business which purchased trucks affected by the cartel has a right to claim compensation in court for any loss which they suffered as a result of the higher prices which they had to pay for trucks due to the price fixing, together with interest since the date of purchase. This will include trucks purchased from MAN, Volvo/Renault, Daimler, Iveco and DAF between 1997-2011.

“As the recognised body for the industry we have more than 123 distributor members and the majority are in the UK,” explains Guy Pulham.

“Working closely with heating oil industry group FLARE, we’re delighted to have secured the services of Hausfeld Solicitors to assist our members. Especially as they are willing to act on behalf of our members on a no-win no-fee basis and are highly qualified to do so, as competition litigation specialists already working with truck associations in Germany, Denmark, Sweden, France, Portugal, Norway and the Netherlands as well as in the UK.”

“By working with Hausfeld we are in a strong position to support all our members.”

“Companies and individuals who purchased medium and heavy duty trucks from the implicated manufacturers between 1997 and 2011 have a right to claim compensation for any loss incurred due to the higher prices paid as a result of the price fixing as well as for any interest since the purchase date.”

Hausfeld has advised that our members are likely to recover compensation against the truck price fixing cartel and they could reasonably expect compensation of up to €4,500 per truck plus interest, assuming an average price per truck of €60,000.” adds Guy.

In February 2017, claims against the truck manufacturers found guilty by the EC were brought before the competition division of the High Court by affected hauliers in the Republic of Ireland where the FPS is working with O’Dwyers Solicitors.

Guy Pulham adds: “The FPS will co-ordinate all claims on behalf of its members in the UK who wish to secure compensation as we believe that we are in a far stronger position when we stand together – it makes total sense to pool our resources and share the risks whilst maintaining control of the process.”

“By making a stand as one and working together with the help of Hausfeld, we are likely to gain much more than by making a claim on an individual basis.”

“We are fully committed to supporting our members and will do all we can to find the right resolution for those affected by the truck cartel – and as the recognised trade body for the industry, we are in a strong position to do so.”