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Former VW boss Martin Winterkorn faces £10m dieselgate settlement

​Volkswagen Group’s former chairman Martin Winterkorn

The Volkswagen Group is set to receive almost £10 million from former chairman Martin Winterkorn as part of a long-awaited dieselgate emissions scandal settlement.

Other former director from the German car manufacturer, including then Audi head Rupert Stadler and Porsche boss Wolfgang Hatz, have also agreed to pay VW a further £5.7m.

The settlements follow an extensive review of liability claims on behalf of the Supervisory Board conducted by law firm Gleiss Lutz, which submitted its findings in March.

The Supervisory Board of Volkswagen AG reached the agreement at the weekend, but it is not expected to be formally agreed until a general meeting scheduled to take place on July 22.

A preliminary report document published on the VW Group website also revealed that it has reached an agreement over compensation payments from its insurers in relation to the dieselgate emissions scandal.

D&O insurers are expected to pay around €270m (£234m) in compensation to the OEM.

The sum pales at the side of the £28bn reportedly paid by the Volkswagen Group to regulators across the globe in relation to the dieselgate emissions scandal first uncovered by US authorities back in 2015.

VW’s preliminary investigation document said: “The responsibilities of Volkswagen’s board members in connection with the diesel issue have been thoroughly and very carefully investigated over a period of more than five and a half years.

“Now that this comprehensive investigation has been concluded, the clarification process should be brought to an end so that Volkswagen can draw a line under reviewing the responsibilities of the board members and conclude the diesel issue in that regard as well.”

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