Arcadia Group Brands Ltd and ors v Visa Inc and ors

In this significant private competition law case, major UK retailers such as Argos and B&Q issued proceedings against Visa International and Visa Europe in 2013 for over £1 billion in damages. They alleged that Visa had charged (since 1977) anti-competitive “multi-lateral interchange fees”. Visa applied to strike out the claim for the period between 1977 and 2007 on the basis that the claimants were out of time to sue for that period. The retailers claimed that, because Visa had hidden relevant evidence, they could not have sued before 2007. Mr Justice Simon found for Visa. He found that the claimants had enough information to plead their claim before 2007 and that the 6 year limitation period therefore expired before 2013. The retailers said that the struck-out portion of the claim was worth over £500m.  This is now the leading case on the application of s. 32(1)(b) of the Limitation Act 1980 in competition damages cases.

The full judgment can be read here:
http://www.bailii.org/ew/cases/EWHC/Comm/2014/3561.html 

Brian Kennelly appeared for Visa International