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The Court of Appeal has ruled that redress payments made by regulated firms under the FCA's complaints-handling regime cannot be used to seek contribution from other parties responsible for the same underlying mis-selling. This decision, arising from a dispute over historic PPI mis-selling between AXA and Santander, clarifies the limits of recovery under the Civil Liability (Contribution) Act 1978 and has significant implications for firms bearing regulatory responsibility for redress schemes.

The High Court ruled in NOR Capital v Kigen that a success fee in fundraising agreements is triggered only by external investments, emphasizing the importance of clear contractual language and alignment on key terms to avoid disputes.