The UK Court of Appeal grants the appeal by over 46 million consumers against a financial company in relation to alleged overcharging of interbank fees (Merricks / MasterCard)

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A recent Court of Appeal decision has reignited the prospects of a £14 billion class action against Mastercard. In a much-anticipated ruling, the court has granted an appeal by Walter Merricks, the representative for over 46 million UK consumers, against Mastercard in relation to alleged overcharging of interbank fees between 1992 and 2008. Taking a broad approach to class certifi cation, the court found that class claimants need show only a “real prospect of success” to secure class certification and do not need to detail how the proposed economic model or damages distribution method would, in due course, be determined. Background to the claim In December 2007, the European Commission (the Commission) found that by setting default interbank fees (multilateral interchange fees or

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Authors

  • Skadden, Arps, Slate, Meagher & Flom (London)
  • Skadden, Arps, Slate, Meagher & Flom (London)
  • Skadden, Arps, Slate, Meagher & Flom (Brussels)
  • Skadden, Arps, Slate, Meagher & Flom (London)
  • Skadden, Arps, Slate, Meagher & Flom (London)
  • Skadden, Arps, Slate, Meagher & Flom (New York)

Quotation

Bill Batchelor, Bruce Macaulay, Ingrid Vandenborre, Jonathon J. Egerton-Peters, Sym Hunt, Boris Bershteyn, The UK Court of Appeal grants the appeal by over 46 million consumers against a financial company in relation to alleged overcharging of interbank fees (Merricks / MasterCard), 16 April 2019, e-Competitions April 2019, Art. N° 96886

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