The UK Supreme Court dismisses the appeal of a financial services company in a class action related to an alleged overcharging of interbank fees (Merricks / Mastercard)

The UK Supreme Court has today ruled in favour of Walter Merricks, the former head of the UK Financial Ombudsman Service., in a hotly-anticipated judgment in the first opt-out competition class action brought in the UK. Background Mr Merricks is the proposed class representative for 46.2 million people who, between 22 May 1992 and 21 June 2008, purchased goods and/or services from businesses in the UK that accepted MasterCard cards. Mr Merricks has valued that claim at in excess of £14 billion (and this sum will likely now be even greater, with interest having continued to run since the claim was filed in September 2016). Our commentary on the

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Auteurs

  • Covington & Burling (London)
  • Covington & Burling (London)
  • Covington & Burling (Brussels)
  • Covington & Burling (London)
  • Covington & Burling (Brussels)
  • Covington & Burling (London)

Citation

Louise Freeman, Alexander Leitch, Johan Ysewyn, James Marshall, Peter D. Camesasca, Harry Denlegh Maxwell, The UK Supreme Court dismisses the appeal of a financial services company in a class action related to an alleged overcharging of interbank fees (Merricks / Mastercard), 11 décembre 2020, e-Competitions December 2020 - II, Art. N° 98353

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