High Court grants interim injunction in Chapter II Prohibition/Article 102 TFEU proceedings. On 5 November 2013, the High Court granted applications for interim injunctions in proceedings concerning an alleged refusal by Barclays Bank to supply certain banking services to the applicants. The underlying proceedings relate to the implementation by Barclays of a decision to reduce its exposure to the money services sector. The claimants contend that, by giving them notice of its intention to withdraw banking services from their businesses, Barclays has acted (or is threatening to act) contrary to the Chapter II Prohibition/Article 102 TFEU. According to the claimants, Barclays has a dominant position in the market for the provision of banking services to money service businesses. The claimants applied for an interim injunction to restrain Barclays from terminating the supply of banking services until after a determination of the merits at trial. On 5 November 2013, the High Court duly granted the requested interim injunctions. Mr. Justice Henderson found that there was a serious issue to be tried as to whether Barclays has a dominant position in the relevant market(s). Mr. Justice Henderson concluded that it was “all but self-evident that damages would not be an adequate remedy” and that the balance of convenience favoured the grant rather than the refusal of interim relief (Dahabshiil Transfer Services Limited v Barclays Bank plc and Harada Limited and Berkeley Credit and Guarantee Limited v Barclays Bank plc [2013] EWHC 3379 (Ch)). |