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Stewarts Law has vowed to appeal a landmark judgment in the MasterCard interchange fees litigation.
Mr Justice Popplewell threw out its £450m claim on behalf of 10 major UK retailers including ASDA, Arcadia and WM Morrison Supermarkets.
Stewarts partner Jonathan Sinclair represented the raft of claimants. A statement from the firm called the ruling “surprising and disappointing” and said the firm would seek leave to appeal.
Its clients allege MasterCard charged it anti-competitive and excessive interchange fees on credit and debit card transactions by customers.
Popplewell J dismissed the claims stating that the fees were lawful and not restrictive.
Mastercard was advised by Jones Day partner Nick Cotter, who added: “The judge was clear that these rates were well within lawful levels given the benefits they generated for retailers.”
Cotter instructed Brick Court Chambers’ Mark Hoskins and Hugo Leith, and One Essex Court’s Matthew Cook.
Stewarts Law instructed 3 Verulam Buildings’ Paul Lowenstein QC and Hannah Glover, Brick Court’s Fergus Randolph QC and Max Schaefer.
Stewarts was one of a number of firms suing MasterCard over claims it charged anti-competitive credit card fees.
Transport for London (TfL) is also suing MasterCard and has instructed Eversheds partner Lesley Farrell on its claim. Farrell has also been instructed by Europcar to sue the payment processing giant.
Quinn Emanuel Urquhart & Sullivan has also launched a mammoth £14bn class action against MasterCard on behalf of British consumers. The case went to its first case management conference in the Competition Appeal Tribunal (CAT).
MasterCard has instructed Freshfields Bruckhaus Deringer to defend the £14bn claim.
The legal line-up
For the claimants, ASDA, Arcadia, Next, B&Q, Comet, New Look, Iceland, Argos, WM Morrison Supermarkets, Debenhams
3VB’s Paul Lowenstein QC and Hannah Glover, Brick Court’s Fergus Randolph QC and Max Schaefer, and Matrix Chambers’ Christopher Brown instructed by Stewarts Law partner Jonathan Sinclair
For the defendant, Mastercard
Brick Court Chambers’ Mark Hoskins and Hugo Leith, and One Essex Court’s Matthew Cook, instructed by Jones Day partner Nick Cotter
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