The Truck Cartel was first exposed to potential victims in 2016 when the European Commission completed the formal investigation condemning the truck manufacturers and imposing a EUR 2.93 billion fine on them for conducting a secret price agreement.
Despite the fact that the judgment unmistakably stated that truck owners would be compensated, that time very few believed that it would be feasible in practice. We were among them.
Since then truck owners have been targeted with various offers. There were some serious ones, but often companies with no financial and legal background offered their services in the hope of easy money.
Sometimes truck owners were even made to pay various administrative and registration fees.
We are professionally and ethically concerned about that because despite the best chances the results are uncertain.
Our offer was clear from the beginning: it is 100% risk-free for our clients.
If the claim was unsuccessful, we would not charge our clients any fees.
At the same time we declared the following 3 things:
- At first glance class action claims seem like more favorable offers, but in our opinion they will not succeed. We only initiate individual claims on behalf of each injured party we represent. A recent court ruling justifies us.
- The German legal system has enormous benefits and we can make the most out of it in favor of the injured parties (for companies registered in any country).
- The process will be slow, it may take 3-5 years for the injured parties to get money (but in other countries this can take two times longer).
Our real work began in 2018 and today we are the only ones who offer risk-free compensation to truck owners in 32 countries of Europe.
Despite the legal situation in Germany the process started very slowly in 2018 and 2019 with a number of legal twists and turns.
The first favorable judgments were already given by the Federal Court (Kartellsenat) in December 2018 but they were only "first swallows". Even then not many believed in the success of our case.
So far there have been more than 50 judgments made in favor of the plaintiffs in the Truck Cartel damages cases in Germany (which are still on appeal), but we are expecting a landslide-like acceleration in 2021.
This requires an essential thing. The court has to determine the amount of the damage. Slowly but surely we are on the right track, and it is an important success that we have been able to secure the appointment of independent experts.
The 37th Chamber of the Munich Regional Court (which also hears our cases) has appointed two independent and highly respected forensic economists - Dr. Oliver Falck, a professor of the Ifo Institute in Munich and Dr. Johannes Koehn.
They are responsible with their team for answering the question about the exact amount of damage to truck owners.
In February 2020, we are 1-1,5 years apart from answering a crucial and extremely complex question regarding our case. If everything continues according to our expectations, then with this decision in place we will be able to reach an agreement in 2021, which will result in an immediate payment.
It is no coincidence how the venue was chosen, since the majority of lawsuits - currently involving more than 240,000 (!) trucks – are pending before the Regional Court in Munich, Germany.
The law firm of Truckrefunds.com has also filed claims on behalf of companies and municipalities, which are also awaiting judgment of the 37th Chamber of the Munich Regional Court.
The next milestone:
the defendants were granted a deadline of May 22, 2020 to respond to our claim.
We promise to inform you immediately about the developments.
Did you know that based on positive court results now you can claim damages with us also for new and used trucks purchased or leased in 2015-2016?
Don't miss out on registering these trucks among the others!