Last week, Vannin Capital published the seventh edition of their Funding in Focus series. The series considers the most recent innovations globally in legal finance, drawing on the experiences of their own employees and the expertise of their contributors, such as Bruno Augustin, partner at Haberman Ilett LLP. Following the recent increase in damage claims for anti-competitive behaviour and Bruno’s recent experience in advising clients in both abuse of dominance and cartel cases, he was asked by Vannin Capital to contribute to the discussion on Quantifying Damages in Competition Litigation, along with competition economist Rob van der Laan of OmniCLES and Rosemary Ioannou of Vannin Capital.
As the article highlights, our knowledge and experience of critically examining financial and commercial evidence is even more important in the competition damages sphere given the decision of the Competition Appeal Tribunal in Sainsbury’s v Mastercard, which highlights the importance of an evidential approach to pass-on. Bruno and his team are regularly asked to assist legal teams, and advise clients, by assessing the evidence of pass-on.
The article also examines the importance of choosing the most appropriate expert. For example, the complex financial and economic factors involved in competition damages cases tend to support a combination of expert economic and forensic accounting evidence as a good way to get a sensible result. In our experience, where appropriate, we have worked closely with competition economists to pool our expertise and assist both claimants and defendants.
The article also touches on matters such as quantification techniques, the use of relevant data and the appropriate level of precision in calculations. These issues require consideration from litigation funders, legal teams, claimants and defendants to ensure the damages quantified are reasonable and proportionate.
A copy of the latest version of Funding in Focus, including Bruno’s article, can be viewed here.
Bruno is uniquely qualified as both a Chartered Accountant and solicitor at law with a particular focus on competition and antitrust disputes. He regularly advises legal teams and litigation funders on the financial aspects of competition law claims. If you would like to discuss any topics covered in this article or would like to discuss competition damages claims more generally please contact him.