Mastercard class action certified

The UK’s Competition Appeal Tribunal last week certified the highly anticipated Merricks v. Mastercard lawsuit, which represents the first time an opt-out class action has been certified since the new regime was introduced in 2015. Innsworth Capital is providing funding of up £45.1 million for the case, which could see Mastercard liable for around £14 billion of damages for infringing EU law by charging ‘interchange’ fees on the use of debit and credit cards between 1992 and 2008. In granting the order, the Tribunal looked closely at the litigation funding agreement and determined that it was suitable, subject to Innsworth providing an undertaking as to liability for costs. Read the order.

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Burford Capital hires arbitration expert and legal finance industry veteran Mick Smith for senior European role

Burford Capital, the leading global finance and asset management firm focused on law, announced that arbitration expert and legal finance industry veteran Mick Smith has joined as Principal in its London office. He will join over 40 colleagues in London, and more than 140 globally. Smith will focus predominantly on the continued expansion of Burford’s business in Europe and especially its industry-leading role in global arbitration matters.

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