COMMENT: Paccar’s conservative stance in EC liability provision could be a sensible one

Noting that “based on recent developments, the company will record a charge of €850m (US$945m) in the first quarter of 2016,” Paccar decided recently to fall into line with Daimler and Volvo and make provision for any impact stemming from the Statement of Objection issued by the European Commission in November 2014, which in itself stems from the investigation launched into anti competitive activity in January 2011. Paccar’s move was followed a day later by CNH Industrial, which announced a provision of €450m against the same issue.