The Competition Appeal Tribunal (“CAT”) has held that the class representative in the ongoing “Maritime Car Carriers” competition collective proceedings could not use the damages element of a settlement reached with one defendant to pay its litigation funder prior to distribution to class members or the conclusion of the proceedings against the other non-settling defendants.
The CAT held that it does – in principle – have jurisdiction to approve such payment from settlement damages under its broad case management powers. However, the judgment demonstrates that it will carefully consider whether to exercise its discretion to do so on a case-by-case basis, and it declined to do so in this case.
For more information see this post on our Competition Notes blog.
For further information, please contact:
Alan Watts, Partner, Herbert Smith Freehills
alan.watts@hsf.com
