(Press Association) A proposed £14bn class action lawsuit against Mastercard has been revived after lawyers launched a judicial review to appeal against a ruling that prevented the case from heading to trial.
Lawyers for former financial ombudsman Walter Merricks have made applications with both the Court of Appeal and the Administrative Court of the High Court, the latter by way of judicial review.
Merrick’s claim was lodged on behalf of nearly 46 million consumers and alleged that Mastercard’s interchange fees forced consumers to pay higher prices to businesses that accept Mastercard over a 16-year period, therefore breaching EU competition law.
The damages being sought are more than £14bn.
But the Competition Appeal Tribunal (CAT) in July ruled that the case could not proceed through a so-called collective action, saying that even if losses had been suffered and could be estimated across the whole class, there was no way of ensuring that an individual would receive an amount compensating for any loss suffered.
But Merricks’s legal team said on Friday that there are “very significant public policy” issues at stake in the case.