Tribunal approves landmark £200m Mastercard settlement

The UK CAT has approved the £200 million settlement of the class action against Mastercard headed by former solicitor Walter Merricks over the objections of funder Innsworth Capital, but that is not the end of the matter. Innsworth has commenced arbitration proceedings against Mr Merricks personally on the basis that did not act with best endeavours to secure its return — anticipated to be £400 million in the litigation funding agreement. Remarkably, Mastercard has agreed to back Mr Merricks in resolving the arbitration with Innsworth.

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