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1262/5/7/16 Agents' Mutual Ltd V Gascoigne Halman

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1262/5/7/16 Agents' Mutual Ltd V Gascoigne Halman 1494B Ne1485B utral citation [2017] CAT 15 IN1486B THE COMPETITION Case1504B No: 1262/5/7/16 (T) APPEAL TRIBUNAL Victoria1487B House 51505B July 2017 Bloomsbury Place London WC1A 2EB Before:421B THE1495B HONOURABLE MR JUSTICE MARCUS SMITH (Chairman)1496B PETER1497B FREEMAN CBE QC (Hon) BRIAN1498B LANDERS Sitting1499B as a Tribunal in England and Wales BETWEEN:1488B AGENTS’1500B MUTUAL LIMITED Claimant1489B -1501B v - GASCOIGNE1502B HALMAN LIMITED (T/A GASCOIGNE HALMAN) Defendant1490B Heard1491B at Victoria House on 3, 6-10, 13-15 and 20 February 2017 JUDGMEN422B T APPEARANCES1503B Mr1492B Alan Maclean QC and Mr Josh Holmes QC (instructed by Eversheds Sutherland (International) LLP) appeared for the Claimant. Mr1493B Paul Harris QC and Mr Philip Woolfe (instructed by Quinn Emanuel Urquhart & Sullivan UK LLP) appeared for the Defendant. 2 CONTENTS1587B A.1506B INTRODUCTION ............................................................................................ 6 B.1507B INDUSTRY BACKGROUND ....................................................................... 11 (1)1520B Estate agents ........................................................................................ 11 (2)1521B Online property portals, Rightmove and Zoopla ............................. 12 (3)1522B The evolution of “online” estate agents and developments in the market .................................................................................................. 14 (4)1523B Agents’ Mutual .................................................................................... 15 (5)1524B The genesis of this dispute .................................................................. 17 C.1508B THE WITNESSES .......................................................................................... 18 (1)1525B Witnesses of fact .................................................................................. 18 (2)1526B Experts .................................................................................................. 22 D.1509B THE NATURE OF THE LEGAL RELATIONSHIP BETWEEN AGENTS’ MUTUAL AND THE ESTATE AGENTS WHO SUBSCRIBED TO AGENTS’ MUTUAL .................................................... 23 (1)1527B The relevant documents ...................................................................... 23 (2)1528B Specific provisions ............................................................................... 26 (3)1529B Points arising ....................................................................................... 28 (4)1530B Duration of the provision .................................................................... 28 (5)1531B The extent to which the provisions can be varied and by whom .... 30 (6)1532B The procure obligation ........................................................................ 30 E.1510B FACTUAL BACKGROUND ......................................................................... 32 (1)1533B Genesis of the idea for a “new” portal ............................................... 32 (2)1534B The establishment of Agents’ Mutual and its business plan ........... 33 (3)1535B Going public and seeking to recruit estate agents ............................ 36 (4)1536B The Agents’ Mutual venture proceeds .............................................. 46 (i)1555B March 2014: exchanges between Mr Springett and Mr Jones .. 48 (ii)1556B April 2014: exchanges between Mr Springett and the North East estate agents ....................................................................... 50 (iii)1557B April 2014: exchanges between IEAG members ........................ 51 (iv)1558B Communications between Mr Rook and Mr Jones .................... 51 (v)1559B The exchanges between Mr Springett and Ms Whiteley ............ 52 (vi)1560B Further communications between Mr Rook and Ms Emmerson .................................................................................. 53 (vii)1561B Communication between Mr Springett and Mr Burt-Gray ........ 54 (viii)1562B Communications between North East agents and Zoopla ......... 54 3 (ix)1563B Parallel discussions between Mr Springett and Mr Jones ......... 60 (x)1564B Mr Jones’ email regarding Zoopla’s position ........................... 61 (xi)1565B North East estate agents discussing which portal to come off... 61 (xii)1566B Exchanges in October 2014 ....................................................... 61 (xiii)1567B Communications with Mr Harrison ........................................... 65 (xiv)1568B Communications between Mr Springett and Mr Flint ............... 66 (xv)1569B Communications in November 2014 .......................................... 68 (xvi)1570B Communications in 2015 ........................................................... 70 (5)1537B Communications with the Competition and Markets Authority .... 72 (6)1538B Some estate agents’ complaints .......................................................... 73 (7)1539B Gascoigne Halman states its intention to breach the One Other Portal Rule ........................................................................................... 74 (8)1540B The “four party meeting” ................................................................... 74 (9)1541B The Northern Ireland Steering Committee ...................................... 77 (10)1542B Further intervention by the CMA ..................................................... 78 F.1511B GASCOIGNE HALMAN’S ALLEGATIONS ............................................. 79 G.1512B INFRINGEMENT OF THE CHAPTER I PROHIBITION: OUR APPROACH .................................................................................................... 84 (1)1543B Matters in issue .................................................................................... 84 (2)1544B The relevant markets .......................................................................... 87 (i)1571B Property portals ......................................................................... 87 (ii)1572B Estate agency services ............................................................... 89 (3)1545B Agreements, decisions and concerted practices ................................ 89 (4)1546B Restriction of competition by object: the law and our approach ... 90 (5)1547B Restriction of competition “by effect”: the law and our analytical approach ............................................................................. 94 (6)1548B Objective necessity: the law and our approach ................................ 96 (7)1549B Factual determinations in a private action commenced without anterior regulatory analysis ............................................................... 98 (8)1550B An overall pro-competitive purpose to the Portal? ........................ 101 (i)1573B The importance of context ........................................................ 101 (ii)1574B Communications between estate agents inter se and between estate agents and Agents’ Mutual ............................................ 101 (iii)1575B Whether the purpose of OnTheMarket is pro-competitive ....... 102 (9)1551B Summary of our approach in Sections H, I and J .......................... 107 H.1513B THE ONE OTHER PORTAL RULE ......................................................... 108 (1)1552B Is the One Other Portal Rule a “by object” restriction? ............... 108 4 (i)1576B The nature and terms of the restriction and its true object ...... 108 (ii)1577B Legal and economic context ..................................................... 110 (iii)1578B Horizontal assessment ............................................................. 111 (iv)1579B Vertical assessment .................................................................. 116 (v)1580B Conclusion on restriction “by object” ..................................... 117 (2)1553B Is the One Other Portal Rule a “by effect” restriction? ................ 122 (i)1581B Introduction .............................................................................. 122 (ii)1582B The nature of Gascoigne Halman’s theory of harm ................ 124 (iii)1583B Evidence in relation to Gascoigne Halman’s theory of harm . 124 (iv)1584B Vertical aspects ........................................................................ 134 (v)1585B Potential pro-competitive effects ............................................. 135 (vi)1586B Conclusion ............................................................................... 140 (3)1554B Objective necessity ............................................................................ 140 I.1514B THE BRICKS AND MORTAR RULE ...................................................... 142 J.1515B THE EXCLUSIVE PROMOTION RULE ................................................. 144 K.1516B THE COLLECTIVE BOYCOTT ALLEGATION ................................... 145 L.1517B POSSIBLE EXEMPTION UNDER SECTION 9 OF THE CA ............... 158 M.1518B SEVERABILITY .......................................................................................... 159 N.1519B DISPOSITION .............................................................................................. 161 ANNEXES1588B Annex1B 1: Defined terms and abbreviations used in the Judgment………...…... 164 Annex423B 2: Competition Act 1998………………………………………….……..... 167 5 A. INTRODUCTION3B 1 1. A116B gents’ Mutual Limited (“Agents’ Mutual”) is a mutual association which is owned by its estate agent members (individually a “Member” and collectively the “Members”). It was incorporated in 2013 with the purpose of establishing a new online property
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