Volkswagen seeks damages from Prevent in ongoing legal dispute

This post was originally published on this site

HAMBURG/FRANKFURT (Reuters) – Volkswagen (DE:) is seeking more than 100 million euros ($112 million) in damages from former supplier Prevent, it said on Tuesday, adding it had filed a first claim for one of its subsidiaries.

The row dates back to 2016, when suppliers ES Guss and Car Trim stopped supplies shortly after being acquired by Prevent in a bid to raise prices, causing production losses at six of Volkswagen’s factories in Germany.

Volkswagen has filed a first claim for its Skoda unit with the Brunswick regional court, it said, adding that the Dresden higher regional court would determine which courts are responsible for further damage claims.

Funke-Mediengruppe first reported about the lawsuit.

Prevent did not immediately respond to a request for comment outside of business hours. The supplier in November filed a lawsuit against Volkswagen claiming damages of more than $750 million.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Add Comment