The Competition Appeal Tribunal has given the green light to a £150 million collective proceedings order (CPO) against five big shipping companies accused of setting up cartels to inflate shipping charges.
The five companies named in the case are MOL, “K” Line, NYK, WWL/EUKOR and CSAV. The cartel affected 80% of all new car and van sales in the UK and involved Ford, Vauxhall, Volkswagen, Peugeot, BMW, Mercedes-Benz, Nissan, Toyota, Citroen and Renault vehicles bought between October 2006 and September 2015.
Motorists Could Win About £60 in Payouts
The CPO, brought forward on behalf of UK consumers and businesses, seeks the payment of damages to the owners of about 17 million vehicles purchased. Anyone who bought an affected car will be automatically entitled to compensation.
If the class and payouts are approved, those who leased or bought the affected vehicles could receive a refund of around £60 per vehicle.
Cartel Faces Investigations Worldwide
Bosses of the shipping companies already confessed to officials at the European Commission about the cartel’s existence. The commission levied a £340 million fine.
Investigations and hearings regarding the cartels and its shipping consequences have already spread around the world, including in Australia, China, Japan, the United States, Brazil and South Africa. Fines against the companies have totaled more than £591 million, or $755 million.
22 February 2022