The Enforceability of Funding Arrangements after PACCAR
The Judgment of the Supreme Court in R (on the application of PACCAR Inc and others) v Competition Appeal Tribunal and others[1](“PACCAR”) provoked litigation funders and class action claimants (amongst others) to reconsider whether their funding arrangements were enforceable. The recent judgment of the Competition Appeal Tribunal (“CAT”) in Commercial and Interregional Card Claims I & II v Mastercard and Visa on the enforceability of funding arrangements, sheds more light on the CAT’s approach in determining whether a litigation funding arrangement is enforceable for the purposes of collective proceedings post PACCAR.
Harcus Parker represents Commercial and Interregional Card Claims I & II at the Competition Appeal Tribunal.