Antitrust Investigation Experience

Euan has over 20 years defending clients in all forms of antitrust investigations, involving regulators from the CMA, FCA, Ofgem, EU Commission and national competition agencies in France, Holland, Spain, Belgium, Greece and Germany. In the UK, his clients have never paid an administrative fine or damages settlement greater than a six-figure sum, achieving file closure decisions or successful defence in court in the vast majority of matters.

His experience includes successful appeals before the Competition Appeal Tribunal, navigation of leniency and settlement programmes and the negotiation of UK competition director disqualification orders.  He has supported witnesses through over 25 UK compulsory witness interview processes.

Euan has appeared as a testifying expert on EU and UK cartel procedure in the High Court and is the Contributing Editor of Global Legal Insights Cartels.

Notable matters include:

• Defence and settlement for UK's largest private terrestrial broadcaster of CMA investigation Case 51156, Broadcasting of Sports Content. *
• File closure of CMA investigation Case 51251, Broadcasting of television content, excluding sport. *
• File closure of EU Commission investigation into fashion industry on behalf of leading global brands retailing group. *
• Generic pharmaceutical manufacturer in respect of CMA antitrust investigations in relation to Hydrocortisone and Nortriptyline, including Competition Director Disqualification proceedings. *
• EU Commission ongoing Gucci investigation on behalf of leading global brands retailing group. *
• Top four tobacco manufacturer defending ongoing antitrust investigations by the ACM, BCA and CNMC in, respectively, Holland, Belgium and Spain. *
• Global digital advertising exchange in respect of EU Commission Ad Tech investigation AT.40670. *
• UK top 3 defence manufacturer in defence of cartel allegations in aviation sector conducted by the Italian Competition Authority and Spanish CNMC.
• UK largest payments processor on various CMA, FCA and EU Commission investigations into Visa/Mastercard Scheme Fees, Cross Border Interchange Fees and Payment Processing. *
• Representing UK regulator in connector with contentious regulatory matters arising from the €14 billion refinancing of Thames Water. *
• Top 3 UK general insurer in CMA investigation into motor insurance information exchange allegations in UK and Irish CA in Ireland. *
• UK's largest debit/credit card payment processor on the Payment Systems Regulator's (PSR) MR18/1.8 Market review into the Supply of Card-acquiring Services. *
• UK's largest debit/credit card payment processor in respect of the PSR's follow up MR22/1 Market Review of Card Scheme and Processing Fees. *
• Multinational Investment Bank in connection with first FCA Competition Act investigation (Asset Management firms in IPO context. *
• Economy Energy in respect of Ofgem's first Competition Act investigation.*
• UK top five general insurer in connection with an FCA Competition Act investigation into the use of automatic renewal terms in the context of motor and household insurance. *

*Indicates a matter worked on while at a previous firm.

Competition Litigation

Euan has extensive experience of litigating antitrust appeals and damages actions in the UK Competition Appeal Tribunal and private courts (including advocacy higher rights of audience).

His expertise encompassed acting on a wide variety of follow-on, stand-alone damages proceedings and collective actions in matters such as Vitamins, Cerezyme, Polyurethane Foam, Auto-parts (wire harnesses), High Voltage Cables, Trucks, Phones4U and Emergency Services Communications Network.  Euan has conducted numerous infringement appeal and regulatory judicial reviews (including successfully overturning the largest fine imposed at the time by the UK competition authority following an 8-week trial, the first UK merger control appeal and the first challenge to a file closure decision). He has successfully defeated contribution claims (on jurisdictional and liability grounds) and settled complex multiparty cartel proceedings, including as between alleged co-cartelists and as between successive owners). His recent matters include three collection action disputes, raising novel arguments as to funding, class definition, third party disclosure and economic assessment of damage. His cases (particularly Trucks) have set CAT procedural precedents that continue to be applied today in connection with access to investigation file documents, inter-parties' disclosure, status of EU investigative infringement decisions, causational chains in damages assessment and role of economic evidence.

Euan served as a member of the CAT's senior advisor User Group panel for 8 years. This included membership of the working group that amended the CAT's procedural rules to accommodate the new UK class action regime and the CAT's originating jurisdiction to hear stand-alone claims.  His cases have won Legal Business Competition Team of the Year, The Lawyer Competition & Regulatory Team of the Year and the Financial Times Innovation, UK Litigation Matter of the Year.

Notable cases include:

• Clare Mary Joan Spottiswoode CBE v Airwave Solutions Limited, Motorola Solutions UK Limited & Motorola Solutions, Inc (First UK Government funded anti-trust collective action).
• (UM) MIF Umbrella Proceedings, (UK largest card payment processer as third party to single claimant and collective actions private damages actions against Visa and MasterCard). *
• Clare Mary Joan Spottiswoode CBE v Nexans France S.A.S. & Others (Pirelli, in respect of the collective action claim brought regarding losses arising from the High Voltage Cables cartel). *
• SP Power Systems Limited and Others v Prysmian S.p.A and Others (Pirelli as the former owner of Prysmian) in its successful challenge to the jurisdiction of the English High Court leading to the displacement of both sets of contribution proceedings brought against it by Prysmian). *
• International polyurethane foam manufacturer in its defence and settlement of various antitrust damages action arising from EU Commission decision in AT.3980/Polyurethane foam. *
• Amit Patel v Competition and Markets Authority (Owner of Auden McKenzie in the defence, appeal and subsequent settlement (including negotiation of Competition Director Disqualification Undertakings) of allegations in respect of Nortriptyline). *
• Vattenfall AB & Others v Prysmian S.P.A & Others (Pirelli in its successful defence when sued by Vattenfall as a primary defendant in respect of the high voltage cartel. Pirelli were the only defendant to secure a full discontinuance of Vattenfall's claim). *
• Ryder Limited and Another v MAN SE and Others (Ryder Inc, as the largest single Claimant follow-on damages action in the UK re EU Trucks Cartel Decision AT 39824). *
• Phones 4u Limited -v- EE Limited and others (co-counsel securing the complete rejection of standalone damages and concerted practice allegations made in connection with the negotiation of distribution arrangements for the distribution of mobile handsets). *
• Japanese multinational car manufacturer in various claims and settlement of follow on damages actions arising from EU Commission auto parts cartel decisions. *
• Case 1160/1/1/10 (1) Imperial Tobacco Group v Office of Fair Trading (successful appeal of largest single firm fine imposed by the OFT on a single undertaking). *
• Transport for London in connection with pending Competition Appeal Tribunal proceedings by Canary Wharf Limited alleging abuse of dominant position. *

Transactional and Regulatory

Euan has provided integrated merger control, competition law, procurement law and subsidy control law advice across a wider range of complex transactions and major infrastructure and energy projects.  Recent deals and matters include:

• Advising Primary Health Properties plc on all aspects of the successful merger control clearance of its 2025 £1.6 billion hostile acquisition of the UK's second healthcare REIT, Assura.
• Advising JTC plc on all aspects of its merger control and FDI clearances in respect of its 2026 £2.3 billion sale to Pemira.
• Advising CVC Capital Partners on its 2026 $2.6 billion acquisition of the DSM-Firmenich animal nutrition business.
• Advising a major UK plc defence business on various transaction in the aviation and ports sectors. *
• Advising UK Govt/Great British Nuclear on all subsidy control, competition and procurement matters regarding the 2025 procurement of the £20 billion UK SMR nuclear fleet. *
• Thames Water Restructuring Advising Ofwat/Defra on various aspects of the Thames Water restricting process including Case CR-2024-007540 concerning the High Court sanctioned Thames Water Part 26A restructuring plan in Feb 2025. *
• Various high-profile procurements & challenges including:
  • Hitachi Rail/Thales SA (rail signalling): Hitachi Rail; Case M.10507. *
  • Silvertown River Crossing. *
  • West Coast Mainline Procurement (including High Court challenge): Stagecoach/SNCF; [2020] EWHC 1568 (TCC)). *
  • Deep Tube Rolling Stock Procurement (including High Court challenge): TfL/LUL; [2018] EWHC 2926 (TCC). *
• Various aspects of the British Steel restructuring and sale processes (including Jinghe sale and special measures). *