REG - Anexo Group PLC - Mercedes Litigation Update

AnexoAnnouncement

15/11/2024 07:00

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RNS Number : 4102M  Anexo Group PLC  15 November 2024

15 November 2024

Anexo Group plc

("Anexo", the "Company" or the "Group")

Judgment issued on the recent trial in the Mercedes Diesel NOx Emissions case

Judgment was handed down yesterday from the preliminary issue trial held in
early October, in the Mercedes Diesel NOx Emissions case. Bond Turner acts for
over 12,000 Claimants. The Court tried the preliminary issue of (inter alia)
whether the decisions of the German vehicle regulator (the
Kraftfahrt-Bundesamt, or 'KBA') as to the presence or absence of prohibited
defeat devices or 'PDD' (i.e. the alleged 'cheat' software) were binding on
the Court and/or the Claimants.  Further, in this context, whether such
decisions were also binding throughout the changing periods of applicable
European Law and subsequently the Brexit process.

By reason of the procedure adopted by the Court to efficiently case-manage all
of the manufacturer emissions cases, (now known as the "Pan-NOx" group
litigations), determinations of fact and law in the context of the Mercedes
litigation will be binding, insofar as relevant and applicable, across the
Pan-NOx Emissions litigation and will therefore likely have at least some
(albeit to varying degrees) positive impact on the other manufacturer cases.

The Court found in favour of the Claimants, holding that only the vehicle
Recall decisions (where the KBA had discovered a PDD and required them to be
removed from vehicles currently on the road) are binding. The other decisions
(including the original Type Approval of the vehicle) were not binding on the
Court or the Claimants.  The changes throughout the Brexit process does not
alter this finding.

The decision means that, in respect of the German manufacturers, the Claimants
can rely on their regulatory body's finding that PDDs were present in the
vehicles for which recalls were issued.  For those where (for whatever
reason) a recall was not issued, the Claimants will still need to prove the
presence of a PDD. Commenting on the Judgment, Alan Sellers, Executive
Chairman of Anexo Group Plc said: "Whilst this decision is not definitive for
the success of the claims, it does strengthen the Claimants' position and is a
significant victory in the litigation at this stage. We are very pleased with
the outcome."

 

Enquiries:

 Anexo Group plc                                   +44 (0) 151 227 3008
                                                   www.anexo-group.com
                                                   (https://url.avanan.click/v2/___http:/www.anexo-group.com/___.YXAxZTpzaG9yZWNhcDphOm86NDg2NmRiOGZkMmRhODZlMjgzMTA2YmEwM2JmNTFiNGI6NjoxMGM2OmNjMjEzOWZjYjQzZTBlNWVjODk2NWEyM2QxMTgxYjQxODI5MTAyY2E2Y2I4ZTI0NTdjODllN2ViM2Y0YmU4Yzg6cDpGOk4)
 Alan Sellers, Executive Chairman

 Mark Bringloe, Chief Financial Officer

 Nick Dashwood Brown, Head of Investor Relations

 Shore Capital (Nomad & Broker)                    +44 (0) 20 7408 4090

 Tom Griffiths / Sophie Collins (Corporate Advisory)

 Guy Wiehahn (Corporate Broking)

Notes to Editors:

Anexo is a specialist integrated credit hire and legal services provider. The
Group has created a unique business model by combining a direct capture Credit
Hire business with a wholly owned Legal Services firm. The integrated business
targets the impecunious not at fault motorist, referring to those who do not
have the financial means or access to a replacement vehicle.

Through its dedicated Credit Hire sales team and network of 1,100 plus active
introducers around the UK, Anexo provides customers with an end-to-end service
including the provision of Credit Hire vehicles, assistance with repair and
recovery, and claims management services. The Group's Legal Services division,
Bond Turner, provides the legal support to maximise the recovery of costs
through settlement or court action as well as the processing of any associated
personal injury claim.

Bond Turner incorporates a number of other specialist legal divisions. One
deals with housing disrepair claims acting for clients living in conditions
where there is disrepair, damp and mould, and concentrates mainly on the
social housing sector. Another focuses on large loss claims, including
professional and clinical negligence and complex medical claims. Bond Turner
is also involved in group actions including diesel emissions and is currently
pursuing claims against Mercedes and several other major manufacturers.

The Group was admitted to trading on AIM in June 2018 with the ticker ANX. For
additional information please visit: www.anexo-group.com
(https://url.avanan.click/v2/___http:/www.anexo-group.com___.YXAxZTpzaG9yZWNhcDphOm86NDg2NmRiOGZkMmRhODZlMjgzMTA2YmEwM2JmNTFiNGI6NjpiYmJjOmZhOTBhZDM1MzBlZWZlYTg5ZTg2ZDEwNjE2MzRjMDQ0Yzk4MzExZjljMmE4YzE3NmFjNjVkZGNhYjBiYmEyNTM6cDpGOk4)
.

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