Legal News

Competition Appeal Tribunal finds funding agreement based on multiple not a DBA, despite express cap by reference to proceeds (Commercial and Interregional Card Claims I Ltd v Mastercard Incorporated)

Published on: 23 January 2024

Table of contents

  • Background
  • Decision
  • The Proceeds Point
  • The Cap Point

Article summary

Dispute resolution analysis: In Commercial and Interregional Card Claims I Ltd v Mastercard Incorporated, the Competition Appeal Tribunal (CAT) has held that litigation funding agreements were not damages-based agreements (DBAs) where the funder’s fee was based on a multiple of the funding provided. Alan Watts, partner and global co-head of class actions, Stephen Wisking, partner, Chris Bushell, partner, and Maura McIntosh, professional support consultant, at Herbert Smith Freehills consider the decision.

Popular documents