Key Federal Court of Justice judgment in Germany on Volkswagen emissions scandal
On Monday July 13th, the German Federal Court of Justice (BGH) delivered an important judgment and approved the assignment model of Financialright GmbH in the „Dieselgate“ collective actions.
Thousands of VW-diesel customers have assigned their claims against VW to the service provider Financialright. The Federal Court of Justice has ruled that this was legal and confirmed that Financialright may even pursue claims governed by foreign law. Plaintiffs can now hope for compensation.
The judgment of the Federal Court is a landmark decision. In the hearing the Federal Court clearly rejected all of Volkswagen’s arguments against the assignment model. This is a great success for Hausfeld and the assignment model. The judgment is highly relevant not only for Hausfeld’s client Financialright GmbH but for all legal tech companies in Germany.
The German Federal Court of Justice press release (in German)
The case has been reported widely (in German):