Following our report, we are delighted to report that the Court of Appeal has upheld the funding arrangements entered into in four collective proceedings currently before the Competition Appeal Tribunal (CICC, Kent, Neill and Gutmann). At first instance, the Tribunal confirmed the lawfulness of the funding arrangements in each of the cases. The defendants appealed those decisions.
The appeal was heard by the Court of Appeal on 10 and 11 June 2025. Judgment was handed down on 4th July. In its ruling, the Court of Appeal upheld the lawfulness of multiples-based funding agreements.
Harcus Parker acts for the class representatives and Respondents in the CICC proceedings, which relate to the alleged incompatibility with competition law of Mastercard and Visa’s imposition of multilateral interchange fees on commercial card transactions.
The team at Harcus Parker was led by Partners Tom Ross and Jeremy Robinson, alongside Senior Associate James Cockburn, who played a central role in coordinating the firm’s work on the appeal.
Tom Ross said:
“We welcome this clear ruling from the Court of Appeal which provides much-needed certainty to the funding of collective redress in the UK.”
Nicholas Bacon K.C. and Daniel Saoul K.C. of 4 New Square, together with Rick Hoyle of Essex Court Chambers, appeared for the Respondents.