Six producers of big rigs have allegedly conspired in a 14-year scheme to defraud government regulators over emissions mandates. The Competition Appeal Tribunal has approved a £2B claim marking a historic first for United Kingdom collective actions. The Road Haulage Association (RHA) is representing an estimated 18,000 claimants as the beneficiaries of the hopeful award.
Law Gazette reports that Therium is the litigation funder that will earn a total of 6% of the award’s proceeds of anything over £2B. Therium will be granted 8% of an award of over £3B. Therium will NET 30% of collective proceeds if the award amounts to anything less than £150M. While the payout ratio of the funding deal is large, claimants say litigation would not be possible without access to third party investment.
Similarly, RHA claims that the case’s lifespan may vary as well, depending on tribunal preference of proceedings. RHA underscores the importance of the litigation agreement’s scaled architecture.
