Funder hit with hefty costs bill after failed bid to block settlement

The UK Competition Appeal Tribunal has ordered litigation funder Innsworth to pay nearly £1 million in costs over its unsuccessful challenge to the £200 million Mastercard class action settlement, ruling that its intervention significantly increased expenses for Walter Merricks and Mastercard, though Innsworth insists it acted under “extraordinary circumstances” to clarify funders’ rights in the collective action regime, and stated it is considering whether to seek judicial review of one or more aspects of the decision.

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