‘The Competition Appeal Tribunal (CAT) has refused solicitor Walter Merricks permission to appeal its decision to deny him a collective proceedings order (CPO) that would allow him bring a £14bn action against Mastercard on behalf of 46m people.’
Litigation Futures, 4th October 2017
Source: www.litigationfutures.com
‘A record-breaking £14bn collective action against Mastercard is set to rumble on after the former ombudsman who brought the case on behalf of 46 million consumers seeks to appeal last month’s Competition Appeal Tribunal ruling.’
Law Society's Gazette, 14th August 2017
Source: www.lawgazette.co.uk
‘A regulatory regime intended to crack down on the behaviour of bank bosses is to be extended to 47,000 firms including dentists, gyms and tool hire companies that offer credit to customers.’
The Guardian, 27th July 2017
Source: www.theguardian.com
‘A record-breaking collective claim against MasterCard was thrown out by the Competition Appeal Tribunal today in a major blow to the growth of funded class actions in the UK. The case, brought by former financial services ombudsman Walter Merricks on behalf of 46 million consumers who were alleged to be victims of excess ‘interchange fees’ charged by card companies, claimed £14bn in damages. It was the largest sum claimed in English legal history.’
Law Society's Gazette, 21st July 2017
Source: www.lawgazette.co.uk
‘The Civil Procedure Rule Committee (CPRC) has warned lawyers involved in the “highly contentious area” of credit hire litigation that if they fail to agree a new model order for directions, they risk “a solution being imposed”.’
Litigation Futures, 6th July 2017
Source: www.litigationfutures.com
‘In this Judgment handed down last week, the Court considered the potential for credit hire companies, who were not parties to the litigation, to be the subject of costs orders. The Appellant car hire company was the subject of such a non-party costs order at first instance and appealed to the High Court. The decision is one which anyone involved in credit hire should be aware of.
Park Square Barristers, 29th June 2017
Source: www.parksquarebarristers.co.uk
‘Car hire purchase deals are now among most complained about policies in Britain, Ombudsman figures show.’
Daily Telegraph, 12th June 2017
Source: www.telegraph.co.uk
‘Complaints about payday loans have risen sharply for the second consecutive year despite strict new regulations limiting interest charges.’
BBC News, 13th June 2017
Source: www.bbc.co.uk
‘Nearly 300,000 debt judgments were filed against individuals in English and Welsh county courts in the first three months of 2017, the highest quarterly figure for more than 10 years.’
The Guardian, 15th May 2017
Source: www.guardian.co.uk
‘Suppose a defendant to a competition claim runs a defence that, in the counterfactual world in which no anticompetitive conduct occurred, pricing would have been no different; and that the claimant replies, “maybe so, but only because you were at the same time operating some independent anti-competitive scheme, which must also be purged from the counter-factual”. Can the claimant amend his claim to plead the independent anti-competitive scheme raised in his Reply as the basis for a new substantive claim even where it would ordinarily be time-barred?’
Competition Bulletin from Blackstone Chambers, 28th April 2017
Source: www.competitionbulletin.com
‘”Irresponsible” car loans will be probed by the City watchdog amid suggestion that drivers could soon be made to pass mortgage-style affordability tests before leasing new motors.’
Daily Telegraph, 18th April 2017
Source: www.telegraph.co.uk
‘Credit card companies could be required to take more active measures to help customers struggling with persistent debts, under plans outlined by the UK’s City regulator.’
OUT-LAW.com, 4th April 2017
Source: www.out-law.com
‘Bailiffs are continuing to intimidate vulnerable people in financial difficulty, despite a government crackdown on the issue, a group of charities has warned.’
The Guardian, 14th March 2017
Source: www.guardian.co.uk
‘Complaints to the financial ombudsman about payday loans have risen to almost 200 a week – and not all of those experiencing problems necessarily fit the image of low-income borrowers relying on short-term loans to get by.’
The Guardian, 28th February 2017
Source: www.guardian.co.uk
‘The number of county court judgments (CCJs) registered against consumers has hit a record high, according to official figures that show that an increasing number of people will have problems getting a mortgage, credit card or bank account in the future.’
The Guardian, 6th February 2017
Source: www.guardian.co.uk
‘A lone whistleblower has won a 13-year “David and Goliath battle” against HSBC and Britain’s chief financial watchdog, resulting in a multimillion-pound compensation payout to thousands of people.’
The Guardian, 20th January 2017
Source: www.guardian.co.uk
‘It was only a matter of weeks ago that I encouraged readers to look to 2017 for any future changes to the credit hire landscape. Nevertheless, it appears I was too hasty. The case of William Powell v Babu Palani was heard on 5th September 2016 at Birmingham County Court before His Honour Judge McKenna.’
Zenith PI, 22nd November 2016
Source: www.zenithpi.wordpress.com
‘Anyone buying a secondhand car privately is in danger of having it repossessed without warning by finance companies under “archaic” Victorian legislation, the Law Commission has warned.’
The Guardian, 12th September 2016
Source: www.guardian.co.uk
‘Credit card group MasterCard is being sued for £14bn, the largest legal claim in British history, in a landmark lawsuit over allegations that it overcharged 46m UK consumers.’
The Guardian, 8th September 2016
Source: www.guardian.co.uk
‘Overdraft fees and an easier system of moving personal and small business accounts are expected to be at the centre of measures intended to bolster competition in the banking sector.’
The Guardian, 8th August 2016
Source: www.guardian.co.uk
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