Parker ITR signs global settlement in Marine Hose case

ERJ staff report (DS)

London — Parker ITR and law company Hausfeld & Co. LLP have scored a global first with a settlement deal in the Marine Hose case.

The settlement allows any purchaser of marine hose from Parker ITR anywhere in the world, other than direct purchasers of marine hose in US commerce, to claim compensation in respect of losses arising from the cartel, irrespective of where they reside or where the marine hose was purchased.

This represents the first time a commercial, non court-based…

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