Mastercard Settlement: Funder Challenges Distribution in Court
Innsworth Capital, a litigation funder, has filed a legal challenge against the recent £200 million Mastercard settlement. The settlement, which was approved by the Competition Appeal Tribunal (CAT), aims to compensate consumers overpaid due to Mastercard’s fees. However, Innsworth claims that the tribunal’s decision unfairly reduces the amount they should receive, based on their original contract with Walter Merricks, the class representative.
What’s at Stake?
- Innsworth’s Claim: Innsworth says it was promised £179 million under the original agreement. However, the tribunal decided to give them only £68 million.
- Grounds for the Challenge: Innsworth argues that the tribunal misunderstood some legal rules. They are also upset because the tribunal decided to give some of the settlement money to a charity called the Access to Justice Foundation, instead of honoring their original deal.
- What This Means for Future Cases: Innsworth is asking the court to review how the tribunal decided on this settlement. The outcome could affect how future cases are handled and how funders are paid.
Background of the Mastercard Case
The case began in 2016, when Walter Merricks filed a claim against Mastercard. He said that Mastercard’s fees caused shoppers to pay higher prices between 1992 and 2008. The case was originally worth £14 billion, but it was settled for £200 million in May 2025. The settlement will give money to millions of consumers in the UK, but many feel the amount is too small compared to what was originally claimed.
Next Steps
Innsworth is now asking the UK High Court to review the tribunal’s decision. The outcome of this case could change how settlements are handled in the future, especially when it comes to how much funders get paid.
More…
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- https://www.lawgazette.co.uk/news/funder-to-challenge-mastercard-damages-distribution-plan/5123564.article
- https://farmingdale-observer.com/2025/06/15/mastercard-must-refund-millions-of-people-including-those-who-have-a-visa-card
- https://www.thesun.co.uk/money/35374682/how-get-mastercard-compensation
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