ZOETERMEER – NLtruckkartel and DAF have reached a settlement for more than 1,000 Dutch customers of DAF trucks. NLtruckkartel is an initiative of TLN and transportation insurance company TVM. This makes NLtruckkartel, with the assistance of Hausfeld lawyers, the largest claims initiative in the Netherlands to reach a settlement as a result of a truck monopoly.
The negotiation outcome now achieved is exclusively with DAF, which is willing to pay reasonable compensation. DAF Trucks will now be removed from the proceedings, while proceedings against other manufacturers will continue unabated. As both NLtruckkartel and DAF are still involved in other proceedings – but no longer with each other – no amounts or other details of the settlement will be disclosed.
TLN and TVM are satisfied with the outcome and appreciate cooperating with DAF in achieving a joint solution. TLN President Elizabeth Post: “We have always strived to reach a reasonable solution for our members: time and speed play an important role. But reasonableness also means an acceptable settlement. We have been working on this case for eight years now, and I am afraid the end of the case is not yet in sight. Therefore I am convinced that DAF was the first to the negotiating table and this means that tangible payment is still on the table this year for the more than 1,000 DAF truck buyers we represent in this action.
TVM, which is providing legal assistance to several hundred companies in this action, also supports the outcome. Michel Verwest, Chairman of the Board of Directors (CEO) of TVM: “For years, there has been a unique cooperation between TVM Insurance, TLN and Hausfeld surrounding the truck cartel. Together we have achieved the first important result through the settlement with DAF. We are proud that a good arrangement has been made With regard to our insured members and the sector, this collective scheme is a milestone for the transportation entrepreneurs affiliated with NLtruckkartel and represents a major boost for the sector. The end is not yet in sight, but the strength of the collective and intense cooperation is confirmed by this arrangement The future with confidence.”