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Mastercard and Visa Face Billion-Pound Payouts After UK Court Ruling, Financial Times

June 17, 2020

Morgan Lewis partner Frances Murphy was quoted in Financial Times article following the firm’s landmark victory in the UK Supreme Court for Sainsbury’s (a major British retailer) against the payment card company Visa. Prior to the relevant proceedings there had been no English or European ruling that Visa’s multilateral interchange fee is a restriction of competition.

Frances, who acted as lead counsel for Sainsbury’s, said the judgment would “have significant implications, including potentially billions in damages with retailers lined up to be compensated for the overcharges. Sainsbury’s will now be seeking to recover the full amount of the unlawful charges it has incurred.”

Read the full Financial Times article >>