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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Photos Full Coverage Sitemap Companies sue Air France, Martinair for price fixing: lawyer AFP - Thursday, September 30 Send IM Story Print Companies sue Air France, Martinair for price fixing: lawyer THE HAGUE (AFP) - – Hundreds of European companies, led by Ericsson and Philips, are to sue Air France-KLM and Martinair for more than 500 million euros for fixing freight prices, their lawyer said on Wednesday. "Today for the first time, cartel victims across Europe are standing up together and demanding refunds from cartelists," Peter Koutsoukis, managing director of Dublin-based litigation company Claims Funding International, said in a statement on the 680-million-dollar claim. Koutsoukis told AFP more than 300 companies from 11 EU member states were claimants in a case he described as the "largest cartel damages claim ever in continental Europe." "We are suing three cartel airlines liable for the damage caused by all of the cartel," which he said involved 22 airlines that have pleaded guilty or have been convicted of price fixing in recent years. The claimant companies allege they were overcharged about 10 percent on international air freight between 2000 and 2007 because of an illegal price-fixing agreement between airlines. Koutsoukis said court papers would be served on Air France-KLM, which is based both in France and the Netherlands, and KLM's Dutch-based daughter company Martinair on Thursday. The case will be filed with the district court in Amsterdam. "The Netherlands was chosen as the appropriate place to pursue this litigation because legal costs are capped at a reasonable level, there is a strong emphasis on settlement, and a confidence that the courts will decide the case on the evidence," said the CFI statement. Under Dutch law, one member of a proven cartel was liable to pay the damages of all its members. "I think what will happen in the future is that they (Air France-KLM and Martinair) will institute proceedings against the other airlines to help pay" whatever damages are awarded, said Koutsoukis. He said the companies, which include major names in the pharmaceutical, automotive, electronics food and fashion industries, had been waiting for a European Commission finding on the cartel before filing suit. But "we have been forced to act because the time limits in some member states may be eroding our clients' rights," said Koutsoukis. "Companies can still join and should contact us promptly to ensure their rights are protected." The lawyer said that European companies had not claimed compensation in the past for price-fixing, "and this is why cartel activity here is so widespread." In June 2009, Air France, KLM and Martinair were fined 10 million Canadian dollars (8.7 million US) for freight price fixing in Canada from 2002 to 2006. Recommend Send IM Story Print News Search Top Stories Workers swarm Europe's streets in anti-cuts protests Europe hands France ultimatum in Roma row Lost letters add a twist to DNA breakthrough Companies sue Air France, Martinair for price fixing: lawyer WTO calls on US to cut farm subsidies More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Workers swarm Europe's streets in anti-cuts protests RBS cuts 500 jobs Virgin to launch space tourism in 18 months Former US president Jimmy Carter hospitalized after flight Extinction threat to one fifth of world's plants More Most Viewed » US state executes first woman in nearly 100 years US pastor puts Koran-burning on hold 'Time bomb' superbug requires global response: doctor Workers swarm Europe's streets in anti-cuts protests More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Yahoo! News Network Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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