Trial 1 in the Merchant Interchange Fee Umbrella Proceedings began in the Competition Appeal Tribunal last week. Thousands of UK businesses are seeking compensation from Visa and Mastercard for losses alleged to have been caused by the card schemes’ anti-competitive interchange fees.
Trial 1, the first of at least three trials in these proceedings, will determine whether the interchange fee arrangements breach Article 101(1) TFEU, and is listed until 28 March 2024.
The proceedings are being livestreamed on the CAT website here.
Oliver Jackson appears for the claimants, along with Kieron Beal KC from Blackstone chambers and Philip Woolfe and Antonia Fitzpatrick from Monckton Chambers, instructed by Stephenson Harwood LLP and Scott+Scott UK LLP.
