Funders of collective actions should not be allowed to bring confidential arbitration proceedings against their clients, Walter Merricks – who brought the landmark Mastercard claim – argued last night.

He also revealed that he is set to take over as the class representative (CR) of another collective action.

At the same event, Solicitor General Ellie Reeves stressed the government’s strong support for collective actions, at a time when the Department for Business & Trade (DBT) is reviewing how the regime has gone in its first 10 years.

Earlier this year, Mr Merricks settled his one-time £14bn opt-out claim against Mastercard for £200m but this has triggered a major dispute with his funder, Innsworth Capital, which thought the sum too low.

It initially sought to bring a judicial review

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