An appeal by Asda, Debenhams and other high street retailers to uphold an extended limitation period on their claim against Visa Europe and Visa Inc for breach of EU, UK and Irish competition law, has been declined by the Court of Appeal, in Arcadia Group Brands and others v Visa Inc and others [2015] EWCA Civ 883. However, the claim, worth an estimated £570m, now continues in the High Court.
The retailers claim Visa inflated the price they paid for accepting credit and debit cards since 1977 by charging a multilateral interchange fee (MIF), and unlawfully restricting competition.The MIF sets a minimum price that is paid by the retailer’s bank to the customer’s bank whenever a customer uses Visa.
The Court of Appeal held that all claims dating between 1977 and 2007 are time-barred under the Limitation Act 1980, s 32(1)(b). As to whether an extension was justified on the basis Visa concealed facts, the Court held only those facts sufficient to plead a prima facie claim were relevant to S 32(1)(b).
.tmb-mov69x69.jpg?sfvrsn=16d9dd3d_1)
