Cornerstone Research Connects: The CAT Judgment in Trucks


Liam Colley and Anca Cojoc of Cornerstone Research and Helen Davies KC of Brick Court Chambers discuss the Competition Appeal Tribunal’s (CAT’s) treatment of the economic evidence in Trucks, with a focus on issues related to plausibility, empirical analysis of overcharge, and pass-on.

Royal Mail and BT v DAF Trucks Limited is the first case in the UK to deal with damages arising from the 14-year trucks cartel and only the second cartel damages case to reach judgment in the UK.

Mr Colley and Dr Cojoc join Helen Davies KC, a barrister at Brick Court Chambers, to discuss key takeaways from the recent seminal judgment in this matter.

Highlights from their wide-ranging conversation include:

  • The unexpected debate over plausibility, with respect to the relationship between list and transaction prices
  • The importance of econometrics in assessing the empirical evidence, notably the challenge of disentangling the cartel effect from other events happening simultaneously
  • Opposing arguments for how the regulatory process would—or would not—facilitate pass-on of overcharge into retail prices

The views expressed herein do not necessarily represent the views of Cornerstone Research.


  • London

Liam Colley

Senior Vice President

  • London

Anca Cojoc


Additional Speaker

Headshot of Helen Davies KC Helen Davies KC
Brick Court Chambers