Supreme Court's
decision in R (on the application of PACCAR Inc and others) v
Competition Appeal Tribunal and others [2023] UKSC
28
The UK Supreme Court recently handed down an important judgment
concerning the statutory interpretation of the legislative
framework regulating litigation funding agreements1. The
litigation funding agreements ("LFAs")
at issue in the case were entered into to support opt-out
collective litigation proceedings before the Competition Appeal
Tribunal and the judgment stands to affect all LFAs which entitle
funders to payments which are based on the level of damages
recovered in the litigation.
The decision has been the subject of significant press attention
and legal commentary. Its implications will be particularly acute,
not only for competition litigation in England, but for collective
proceedings more generally, given the surge in litigation funding
in recent years to facilitate, in particular, multi-claimant
actions in relation
