A £2bn claim against some of the world’s biggest truck manufacturers over their involvement in a price-fixing cartel has been given the green light by the Competition Appeal Tribunal, which has granted the first-ever opt-in collective proceedings order in the UK. Claimant Road Haulage Association will have to pay litigation funder Therium 6% if the total damages awarded, if any, are over £2bn and 8% if they are over £3bn – and as much as 30% if damages are no more than £150m – but the CAT noted that ‘collective proceedings would be impossible without third-party funding’.
