Trucking Cos. Win Funding Fight In UK Cartel Litigation
Law360, London (October 29, 2019, 3:37 PM GMT) -- A tribunal in London has ruled that a funding arrangement allowing two trucking companies to pursue price-fixing claims on behalf of other businesses in the industry against manufacturers is legal and adequately insured in case they lose.
The Competition Appeal Tribunal ruled on Monday that a trade group, the Road Haulage Association Ltd., and UK Trucks Claim Ltd., a special purpose vehicle, did not breach the U.K.'s rules on funding arrangements when they secured some £50 million ($64.3 million) to sue three major manufacturers over a price-fixing cartel.
The five-judge tribunal said that the trucking companies' agreement to hand over a portion of whatever damages they...
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