Collective Proceedings Claim Form

Collective Proceedings Claim Form and Annexes

Collective Proceedings Claim Form

The Collective Proceedings Claim Form sets out Mr Evans’ proposed claim for damages against the banks in detail, and explains why the claim is suitable to be brought as collective proceedings. It also details the reasons why Mr Evans should be authorised to act as the class representative. The Claim Form includes a provisional estimate of damages (which will be updated once the claim progresses and further information is received). For more information on this, please see FAQ25.

The Claim Form also includes certain documents as annexes:

(a) the two decisions issued by the European Commission concerning the foreign exchange spot trading cartels and a press release published by the European Commission summarising its findings; and

(b) documents that are relevant to the administration of the claim if it is authorised by the Competition Appeal Tribunal to proceed, such as: a draft Collective Proceedings Order (or CPO) certifying the claim to proceed, a proposed notice which would be sent to persons who may be covered by the claim, and a copy of the definition of the proposed classes.

Annex 1A – Three Way Banana Split Decision (non-confidential version)

Annex 1B – Essex Express Decision (non-confidential version)

The Commission issued two decisions containing its findings regarding two foreign exchange spot trading cartels. These are the decisions upon which Mr Evans relies in this proposed claim.

The decisions are called the “Three Way Banana Split” and the “Essex Express” decisions after the names of the online chatrooms used by the traders involved in the cartels.

The European Commission provided the non-confidential versions of the decisions to Mr Evans following a request made by him pursuant the EU Access to Documents Regulation (Regulation (EC) No. 1049/2001).

Annex 2 – EC Press Release

The Commission summarised its findings in the decisions in a press release issued on 16 May 2019.

Annex 3 – Class Definition

The class definition identifies the two classes of persons that would be covered by Mr Evans’ proposed claim. A further explanation of the class definition is provided in the Claim Form at pages 25-44.

Annex 4 – Draft CPO

A person wishing to bring collective proceedings as a class representative must first obtain permission from the Competition Appeal Tribunal for the claim to proceed. This is known as obtaining a Collective Proceedings Order (CPO).

This is the draft CPO which Mr Evans requests the Tribunal to make in his favour in order to permit his proposed claim to proceed on behalf of the two proposed classes.

Annex 5 – Draft Notice of the CPO

If the Competition Appeal Tribunal makes a CPO in Mr Evans’ favour, he will be required to give notice to class members that such an order has been made in a form and manner approved by the Tribunal. Mr Evans has produced this draft notice which he will ask the Tribunal to approve if a CPO is made in his favour.