The Foundation is currently calculating the general level of “overcharge” in the market as a result of the cartel. The Foundation will consequently use this calculation model to quantify the individual damages of affected companies from all European jurisdictions. The overcharge is the extra amount that was charged by the Truck Manufacturers during the time in which the Cartel was active. The overcharge will be a realistic indication of the expected compensation. The Foundation will provide a tool in the future in which you can calculate the estimated overcharge.
The Foundation has selected an economic expert that will be calculating the overcharge for all the participants. The calculation process inter alia includes the following steps:
- 1. Conducting a theoretical analyses: i.e. relevant literature to validate the chosen approach for damage calculation;
- 2. Assessing the affected volume of commerce: i.e. the price paid for medium and heavy trucks during the cartel period;
- 3. Calculating the overcharge: development of a model to estimate the general level of “overcharge” amount by which the truck market is overcharged as a result of the truck cartel;
- 4. Quantifying cartel damages on an individual and a group level: on the basis of the calculated overcharge and the purchase values of the trucks it is possible to calculate individual damage amounts;
- 5. Calculating interest: affected companies are entitled to interest accrued on the overcharge as from the date of purchase to the date of compensation;
- 6. Analyzing pass-on defenses of the overcharge: the Foundation intends to rebut the defendant’s argument that any loss was passed on down the supply chain by obtaining relevant information from the injured parties. This information could be used to show that there was no direct causal link between the overcharge and the price charged to the participant’s customers, if any.
As part of data collection process the Foundation has developed a Claim Platform to which the Foundation, its local partners and its participants will have access to. The Claim Platform offers an efficient way of big data collection. Subsequently the requested information will be uploaded and stored at the Claim Platform. The registration and upload process will be managed by the local partners of the Foundation in the applicable jurisdictions.