The German Supreme Court ruled that a suit brought by Cartel Damage Claims (“CDC ”), claiming antitrust damages against six cement companies was admissible. In 2003, the defendants had been fined a total of €660 million by the German Federal Cartel Office for operating a price-fixing cartel. CDC , a Brussels-based company specialised in antitrust litigation, purchased damages claims from 36 alleged victims of the cement cartel, and sued cartel members on its own behalf (according to CDC ’s press release, the claim is for €170 million). The Supreme Court confirmed that CDC could use this procedural device as a substitute for a class action, which is not permitted under German law. The case will now proceed before the Düsseldorf district court. CDC has also recently purchased damages claims from 32 alleged victims of a price-fixing cartel between hydrogen peroxide manufacturers (CDC believes that the combined claim represents around €430 million plus interest).
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German Supreme Court allows a claim against cement manufacturers to proceed
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