Oxera expert role in landmark damages ruling by Competition Appeal Tribunal
2 Travel had originally claimed around £50m in damages. The CAT awarded £33,818.79 in lost profit and £60,000 in exemplary damages. Dr Gunnar Niels, Oxera Director, acted as an economic expert for the defendant on the question of quantifying the lost profit. Both parties also engaged an accountancy expert. The CAT said:
Says Dr Niels: ‘Follow-on damages cases rarely make it all the way to trial and a judgment, and in this regard the 218-page CAT ruling is to be welcomed as adding to the, as yet limited, case law on the subject. It is encouraging that the Tribunal found the experts helpful. The judgment gives some clarity on how to identify lost profit claims that fit with the facts and with the way the market works, and are not overly speculative.’
Access the full judgment here: www.catribunal.org.uk/238-6946/1178-5-7-11-2-Travel-Group-PLC-in-liquidation.html
Ends