Wednesday, January 11, 2017

More expensive stone: VW and US miles for justice, some in the exhaust-gas-crime – Tiroler Tageszeitung Online

Hannes Breustedt, dpa

Wolfsburg, Washington – it could come in thickness, had then thought no: VW needs to grab in the exhaust gas, scandal, lower than expected in the bag to litigation with the U.S. Department of justice to resolve. You have a fine and criminal payments in the amount of 4.3 billion dollars (4.1 billion euros), announced the group on Tuesday evening. The comparison is not sealed yet final. And there is already new Trouble.

The compromise with the U.S. Department of justice would be a milestone in the management of the diesel-gate affair, which holds the Wolfsburg car maker since September 2015 in a crisis mode. For over a year, the Federal Bureau of investigation and investigators of other judicial authorities to determine on suspicion of a criminal Offense in connection with the Manipulation of the exhaust-gas values of hundreds of thousands of diesel cars in the United States.

provisions should not be enough

the Deal could buy a VW in the process, but at a high price. Because of the lawsuits with clients, vendors and authorities in support of the U.S. civilian already on the comparisons has been agreed, which could cost about $ 17 billion will not be enough provisions. So far, VW $ 19.2 billion (18.2 billion euros) had laid out for legal costs in the exhaust-scandal aside. Now, the bill is expected to rise to more than 21 billion dollars. “The sum of hurt, but would be manageable”, says expert Ferdinand Dudenhöffer of the University of Duisburg-Essen.

Nevertheless, would know the group, the full force of U.S. Law, should be approved by the Supervisory Board to the Deal. Because in addition to the high fines Volkswagen aims to strengthen the control systems, and an admission of guilt. To do so would admit to criminal acts. VW had acknowledged errors at an early stage, but so far no crime. General Motors and Toyota, the U.S. Department of justice, had pressed for Compare no admissions of guilt. The cases are not comparable: In the case of the rival it was not fraud, but Defective, which led to fatal safety risks.

A “good news”

in Spite of the surprisingly high failure penalty could outweigh in Wolfsburg, the relief over the agreement. By comparison, would create criminal as well as outstanding civil litigation with the Ministry of justice from the world, could focus VW finally focus more on day-to-day business. “It is good news,” commented expert Arndt Ellinghorst, the Evercore ISI. The group can now look forward again.

It was also a huge relief that the conflict will not be deported to the mandate of the new US government, Ellinghorst. There were great concerns that the 20. January could roll up the incoming Administration of President-elect of Donald Trump’s the case. VW group boss Matthias Müller had said in November after the US elections, he hoped that the outcome will not have a negative impact on the negotiations with the U.S. Department of justice.

allegation: cover-up

Really rest VW will not come for the time being. Even over a year after the scandal blew up, was the annual showcase for the industry at the US auto show in Detroit by the diesel affair overshadowed. In the presentations of the VW models for the US market, the message of a penalty-burst display of the Federal public Prosecutor’s office against a member of staff, who was arrested in Miami by the FBI.

Also for the group tip of the case, is controversial. Because in the writ stuff weigh heavily on statements from VW insiders, Management. Shortly before the US authorities made the exhaust manipulation of the public, have arranged the management level cover-up. The secrecy, the manipulation is supposed to be in the top of the specified Directive. Should substantiate the allegations, it could be very uncomfortable.


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