The Guardian has reported that MasterCard, the financial services firm, is being sued for £14bn in the biggest legal claim in UK history. It faces claims that its “interchange fees” on retailers unlawfully overcharged UK consumers for 16 years from 1992 to 2008. Law firm Quinn Emanuel filed the suit at the Competition Appeal Tribunal last week. It is the first claim to be filed under the Consumer Rights Act 2015 on behalf of all UK consumers. MasterCard will fight the action arguing that its payment services are designed to meet customer needs. The European Court of Justice ruled in 2014 that Mastercard’s fees were excessive.
15 September 2016
Mass action action against “interchange fees”
MOVERS & SHAKERS
Jurit LLP—Caroline Williams
Private wealth and tax team welcomes cross-border specialist as consultant
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HFW—Simon Petch
Global shipping practice expands with experienced ship finance partner hire
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Freeths—Richard Lockhart
Infrastructure specialist joins as partner in Glasgow office
NEWS
Talk of a reserved ‘Welsh seat’ on the Supreme Court is misplaced. In NLJ this week, Professor Graham Zellick KC explains that the Constitutional Reform Act treats ‘England and Wales’ as one jurisdiction, with no statutory Welsh slot
The government’s plan to curb jury trials has sparked ‘jury furore’. Writing in NLJ this week, David Locke, partner at Hill Dickinson, says the rationale is ‘grossly inadequate’
A year after the $1.5bn Bybit heist, crypto fraud is booming—but so is recovery. Writing in NLJ this week, Neil Holloway, founder and CEO of M2 Recovery, warns that scams hit at least $14bn in 2025, fuelled by ‘pig butchering’ cons and AI deepfakes
After Woodcock confirmed no general duty to warn, debate turns to the criminal law. Writing in NLJ this week, Charles Davey of The Barrister Group urges revival of misprision or a modern equivalent
Family courts are tightening control of expert evidence. Writing in NLJ this week, Dr Chris Pamplin says there is ‘no automatic right’ to call experts; attendance must be ‘necessary in the interests of justice’ under FPR Pt 25
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