Chart design Updates + Events

CASE MANAGEMENT CONFERENCE

UK | FX

6 November 2019

The first case management conference was held in the Competition Appeal Tribunal (the Tribunal) in London on 6 November 2019. A case management conference is a procedural hearing at which the Tribunal gives directions on how the next stages of the claim should proceed. The order setting out these directions in full, and the transcript of the hearing, are available here or on the Tribunal website at https://www.catribunal.org.uk/cases/13297719-michael-ohiggins-fx-class-representative-limited.

In summary:

  1. The banks will provide the Class Representative with confidential versions of the European Commission decisions dated 16 May 2019. Each bank will also provide the Class Representative with sample of contracts for clients who have traded foreign exchange through its European desks.
  2. The Class Representative will provide the banks with certain additional documents about how the claim is being funded and how the banks’ costs will be met if the claim is unsuccessful.
  3. There will be a hearing on 13 and 14 February 2020 to determine any objections which the banks have to the Class Representative, or its funding arrangements.
  4. The main class certification hearing has been provisionally scheduled for the beginning of 2021.

Any confidential and/or commercially sensitive information will only be provided to named individuals within a ‘confidentiality ring’, ordered by the Tribunal. These documents (which include those referred to at 1 and 2 above) will not be publicly available.


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