Deminor is backing a new group action claim in Italy filed against the “Corrugated Cardboard Cartel.”
The civil action follows the Italian Competition Authority’s decision – also confirmed by the Lazio Regional Administrative Court – which ascertained the existence of two collusive agreements between the main operators in the sector aimed at inflating sales prices for corrugated cardboard sheets and packaging for a period of more than 10 years. Many large Italian groups were harmed by these cartels.
Italian law firm BonelliErede will be leading the multidisciplinary legal team, which will include professionals from the firm’s Competition Litigation Task Force with extensive experience in antitrust damages actions.
Charles Demoulin, Chief Investment Officer of Deminor, explains why the agreement with BonelliErede is such an important landmark within Italy:
“This collaboration represents a momentous breakthrough in the Italian legal world, with respect to the application of litigation funding, and by doing so provides a unique opportunity for companies who were victims of the Corrugated Cardboard Cartel to be assisted by the leading Italian law firm and the leading European litigation funder. Through working with Deminor and BonelliErede, damaged companies will send a powerful message to the opposing parties that they will pursue the case to its logical conclusion, greatly increasing their chances of obtaining a successful outcome.”
This is the second Italian collective claim launched against the Corrugated Cardboard Cartel — Bench Walk Advisors is also backing a claim initiated in late 2021, with bookbuilding and damage assessments for that case being delivered by Libra and legal and litigation services being delivered by Delex.