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Don't know what country this happened in, Sounds like Spain, Portugal?
Anyways, if it is illegal to ride a bicycle with no helmet and lights, then sure, the guy has a case.
But. His insurance company already paid out to the bicyclists family, citing excessive speed on the drivers part. I don't think he could sue when he is partially at fault.
I do see his point though, If I were to hit a jaywalker I would sue for damages.
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