On May 20, 2025, the Competition Appeal Tribunal (CAT) handed down its judgment in relation to the settlement of the class action brought by Mr. Merricks against Mastercard on behalf of UK consumers. This important judgment approves the settlement of Mr. Merricks’ claim and sets out in detail how the settlement sum of £200 million is to be distributed. In doing so, the CAT adopts a delicate balance between its desire to incentivise uptake by class members and the need to ensure that the litigation funder (who intervened in the settlement approval hearing) receives a reasonable return in circumstances where the settlement amount is far lower than the approximately £14 billion originally claimed.
Milbank LLP special counsel Mark Padley, a member of the firm’s Litigation and Arbitration Group in London, recently spoke with Law360 about this complex and groundbreaking settlement, and how this might impact future class actions in the UK.
The full article can be read here.
