£2bn trucks cartel claim gets green light

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’.

Read more.

Keep Reading

In the News

Government hunkers down in standoff with Sulu Sultan’s heirs

The standoff between the heirs of the late Sultan of Sulu and the Malaysian government over the US$14.92 billion Therium-backed claim over unpaid yearly leases continues to make the headlines, with former attorney general Tan Sri Tommy Thomas saying last week that the award is “completely illegitimate”.

In the News

Special Report: The Sulu heirs’ claims – A thorn in Malaysia’s side

There is supposedly an immense amount of wrangling behind the scenes of the US$14.92 billion claim and ongoing dispute between the eight heirs of the late Sultan of Sulu and the Malaysian government, and the Therium-backed claim couldn’t have happened at a worse time for the country amid its unstable political situation.

Before You Go

Never miss a thing in the litigation finance market.