Group Litigation Orders
Group Litigation Order
Ref No: 43
Name of Group Litigation Order: FIDs Group Litigation (Foreign Income Dividends)
Date of Order: 20/07/04
Judge: Hon. Mr Justice Park
Court: High Court of Justice, Chancery Division
Managing Court: High Court of Justice, Chancery Division
Lead Solicitors: McGrigors LLP, 5 Old Bailey, London EC4M 7BA (Contact: Jason Collins,Tel: 0207 054 2727, Rupert Shiers, Tel: 0207 054 2590)
Defining Issues: The litigation involves claims by pension funds or by life companies in respect of their pensions business for compensation where those claimants have received foreign income dividends which carried no right to a tax credit. Ordinary dividends paid to these claimants would have carried a tax credit and that credit would have been paid to the claimants. The claimants say that the Foreign Dividend regime contravenes EU law and, as a result, they have suffered loss.