The Broad Axe Falls — Granville v. LG

One of the very few UK cartel damages judgments was recently handed down in Granville Technology Group Limited and Others v. LG Display Co. Ltd. and Others [2024] EWHC 13 (Comm) (Granville v. LG). The judgment demonstrates the UK courts' evolving approach to deciding follow-on damages claims, particularly with regard to the consideration of overcharge and downstream pass-on:

1. Overcharge: The English courts continue to use the "broad axe" principle when assessing overcharge. This approach allows the court to adopt an element of estimation and assumption in calculating damages in order to avoid an unreasonable insistence on precision to defeat a justified claim for compensation. This is a pragmatic approach to damages given the inherent evidential limitations often seen in follow-on damages claims.