H&J acquired claims from two insolvent companies who had been victims of a price fixing cartel within the manufacturing industry.
H&J acquired claims from two insolvent companies who had been victims of a price fixing cartel within the manufacturing industry. The cartellists’ actions had been identified following a CMA investigation which uncovered collusion between a number of market leading manufacturing firms. The firms agreed not to compete with each other’s retailer customers - effectively dividing the market up between them so that they could choose their own pricing rather than letting market forces decide.
Whilst the actions of the cartellists was not open to dispute following the CMA’s findings; identifying and quantifying the loss caused by these actions was complex. H&J worked with specialist competition law solicitors as well as expert economists to calculate and evidence the losses suffered by the assignors as a result of the cartellists’ actions.
H&J then brought claims against the cartellists in respect of those losses seeking substantial damages. Following a lengthy exchange of legal correspondence the parties agreed to attend mediation - which ultimately resulted in a resolution of the claims and the return of substantial sums to the companies that had assigned claims to H&J.
H&J secured the recovery of more than £7m pursuant to a judgment handed down on 5 January 2024.
