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UK House of Lords reverses appeal court antitrust damages decision in Crehan case

( July 19, 2006, 15:57 GMT | Official Statement) -- MLex comment: A rare private damages claim for an antitrust abuse has been overturned by a UK House of Lords judgment which upheld an appeal against a Court of Appeal damages award in the Inntrepreneur (Courage) v. Crehan case. At stake for Inntrepreneur were hundreds of potential damages claims that could have reportedly cost the company 100 million pounds. The judgment is notable for taking a narrow approach to the binding effect of Commission decisions in the competition field. The Lords welcomed the intervention of Visa Europe Limited and Visa UK Limited in the case but said the decision today could 'say nothing about whether today's decision has any application to Visa, whose position as against the OFT may well be different from that of Mr Crehan against Inntrepreneur.'The full text of the judgment follows...

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