Law Firm Stewarts Law has won a major Supreme Court victory on behalf of ASDA, Argos and Morrisons, against MasterCard in the high-profile interchange fee litigation.
The Supreme Court has confirmed that the fixing of interchange fees by MasterCard and its network members was an unlawful infringement of competition law that had been ongoing for many years. The Supreme Court found unequivocally in the claimants favour, in what has been described as the largest and most complex cartel damages claim conducted in the English Courts to date.
Kate Pollock, Head of Competition Litigation at Stewarts Law commented:
“Following an exceptional four day hearing in the Supreme Court in the landmark interchange fee litigation, our clients (ASDA, Argos and Morrisons) and we are delighted that the Supreme Court has found unequivocally in our clients’ favour and confirmed their long held view that the fixing of interchange fees by MasterCard and its network members over many years was an unlawful infringement of competition law.
“Our clients were also successful in their cross-appeal, overturning the Court of Appeal’s decision to remit their claims to the Competition Appeal Tribunal on the question as to whether there is an exemptible level of interchange fees. Described by the Commercial Court as the largest and most complex cartel damages claim conducted in the English Courts to date, this litigation has been hard fought.
“The Supreme Court’s definitive finding on liability means that our clients’ claims can now proceed to trial on the issue of the quantum of damages. They look forward to a swift resolution of the matter without further delay.”
The full judgment can be found on the Supreme Court website.