Waha Oil sues Dunlop for marine hose damages

ERJ staff report (DS)

London -- Waha Oil Co, the second biggest oil producer in Libya, has engaged London law firm Hausfeld to bring a High Court action against Dunlop Oil & Marine Limited (Dunlop) for its involvement in the marine hose cartel.

Waha made significant purchases of marine hose from Dunlop and the other cartelists during the cartel period. Hausfeld also confirmed that it has been instructed by additional claimants seeking to take action against Dunlop, and continues to discuss with other potential claimants.

Anthony Maton, partner in Hausfeld, said, “This action follows our groundbreaking settlement agreement with Dunlop's fellow cartelist Parker ITR, whereby any of Parker ITR's customers are able to claim compensation in respect of their losses arising from the cartel, irrespective of where they reside or where the marine hose was bought, and provides for Parker ITR's co-operation in bringing claims against the other cartelists."

He continued, "We are now commencing this action against Dunlop in order to offer Waha and other aggrieved purchasers a further means of recouping their losses arising from the cartel with the benefit of an innovative insurance and funding package that minimises the threat of incurring prohibitive legal costs and maximises claimants' recovery.”

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Press release from Hausfeld