The Competition Appeal Tribunal (CAT) has approved a £1.5 million settlement between Mark McLaren, and CSAV, one of the five shipping groups involved in an illegal cartel manipulating car shipping prices. This settlement, the first at the CAT, addresses CSAV's role, but the legal proceedings against the other four defendants are expected to continue with a trial in early 2025.

CSAV, with a 1.7% market share in the cartel and smallest entity of all five Defendants, proposed the settlement, which was approved during a CAT hearing on December 6. The settlement funds will be held in escrow, and damages will be distributed to class members once litigation against the other defendants concludes.

This latest development is significant for British consumers and businesses who suffered losses due to the cartel, impacting more than 17 million cars. The claim value, expected to be up to £60 per car, focuses on those who bought new vehicles between October 2006 and September 2015 from leading brands like Ford, Vauxhall, Volkswagen, and others.

The legal action follows the European Commission's 2018 decision to fine shipping companies €395 million for fixed prices and rigged bids in the transport of vehicles. The class action seeks to provide compensation to those who were overcharged for delivery costs, emphasising the importance of collective settlements, and upholding the rule of law.

Read more on the official Judgement via Tribunal website below