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Motorists overpayment settlement overview:
- Who: Chilean vehicle carrier Compañía Sudamericana de Vapores SA has agreed to pay £1.5 million to resolve claims brought against it by a class of millions of motorists.
- Why: The settlement resolves claims the carrier was part of a cartel of vehicle carriers that schemed to inflate and fix the price of car delivery fees.
- Where: The settlement agreement was made in the UK.
A group consisting of millions of motorists who allegedly overpaid for their vehicles have agreed to a settlement with Chilean carrier Compañía Sudamericana de Vapores SA (CSAV) for a total of £1.5 million.
The motorists were represented by consumer advocate Mark McLaren, who argued CSAV was part of a scheme with other major shipping companies to inflate and fix the price of car delivery fees, reports Law360.
McLaren argued a total of 17 million vehicles were impacted by the price-fixing scheme, which included CSAV, Nissan Motor Car Carrier Co. Ltd., Kawasaki Kisen Kaisha Ltd., Eukor Car Carriers Inc. and Nippon Yusen Kabushiki Kaisha,
CSAV is the smallest member of the defendants in terms of market share at only 1.7%, according to the notice of settlement application.
Settlement includes £1.2 million in damages, £280,000 in costs
The class action lawsuit was originally filed in February 2020 following a 2018 decision by the European Commission to fine the carriers £395 million for taking part in the price-fixing scheme with vehicles that were transported between 2006 and 2012, reports Law360.
The settlement agreement — which is the first of its kind for a class action lawsuit in the UK — includes £1.2 million in damages and £280,000 in costs that will be used to cover CSAV’s share of the costs incurred in bringing the claim.
The agreement will not resolve claims — which totaled £150 million at the time of class approval — against the other vehicle carriers, with a trial expected to begin sometime early 2025, reports Law360.
McLaren and CSAV will ask the tribunal to approve the proposed settlement at a hearing that is set for Dec. 6.
A hearing was held with the Competition Appeal Tribunal in November 2021 to decide whether the class action lawsuit would be allowed to proceed, with motorists being told around that time that they may be eligible to receive £60 in compensation.
Are you eligible to receive compensation from the class action settlement? Let us know in the comments!
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