News & Blog
Oral arguments began this week in the massive £14 billion collective action lawsuit over MasterCard’s interchange fees, MLex reports. The controversial case was initially rejected after a specialized court, the Competition Appeals Tribunal (CAT), denied certification because it said the claimant would be unable to prove that the fees were passed on to consumers, among several other reasons.
A Liberal MP told The Australian that litigation funders have descended on the country like “a plague of locusts” to capitalize on the economic turmoil caused by the COVID-19 pandemic.
Plaintiffs’ lawyers and litigation funders, are working to convince class members in Germany to opt out of a settlement with Volkswagen and file their own claims individually, according to the Financial Times. A group of American and British lawyers, along with their own litigation funder, are trying to convince members of the original class against Volkswagen to opt-out of the recent settlement and pursue their own claims.
Latest Amsterdam Court of Appeal’s Ruling Confirms Netherlands’ Status As A Major Transnational Litigation Hub
A ruling by the Amsterdam’s Court of Appeal confirms that the country has become a welcoming hub for transnational and international collective litigation. As reported by the Dutch press, the Amsterdam Court of Appeal is allowing a claim from a large group of Ivorians against Trafigura to proceed.
Jason Falinski, the chair of the Australian House of Representatives standing committee on tax and revenue, said third party litigation funders “have turned our systems of justice into a casino in which they are the only winners.”
A judge in Dubai has ordered litigation funder Burford Capital to release a £350 million yacht at the heart of a divorce case it’s funding. The yacht, which has two helipads, nine decks, a swimming pool, and a mini-submarine, “has become the thorniest part” of the proceedings, according to the Financial Times.
This week, an Australian judge took a $4 million axe to what he called one of the “worst” proposed class action settlements he’s ever seen. Justice Bernard Murphy said the portion going to the lawyers from Quinn Emanuel and the litigation funder Vannin Captial in a Bank of Queensland class action settlement was “disproportionate” to the amount going to the class.
A Mastercard spokesman told The Telegraph that the huge class action lawsuit revived by the UK Court of Appeal “is completely unsuitable to be brought under the collective actions regime.” The UK Supreme Court announced last week that it will hear the company’s challenge to the £14 billion ($17.1 billion) class action.