Fifty Eighth Meeting – 25 October 2013

  • The Minutes and Resolutions of the previous meeting were approved.
  • It was reported that there were 177 victims as at 7 October 2013, according to the figures on the National CJD Surveillance Unit website. However, Field Fisher Waterhouse were aware of 183 victims. By the end of this meeting, the Trustees had considered 181 of the claims submitted to date. The Trustees had considered a total of 406 claims for £5,000 Psychiatric Injury, 216 claims for Particular Emotional Hardship and 45 claims for Particular Financial Hardship.
  • The meeting included consideration of 2 claims for Psychiatric Injury and 1 Interim Payment application. There has been 1 Interim Payment since the last meeting.
  • £41,078,281.89 had been paid in compensation by the date of the meeting, £14,494,181.98 had been paid for costs, expenses and taxes, which included £5,370,082.82 in relation to Charles Russell’s fees (inc VAT), £489,288.43 in relation to Field Fisher Waterhouse’s fees (inc VAT), £3,574,020.82 to Irwin Mitchell’s fees (inc VAT) and £272,369.44 in relation to other solicitors’ fees and expenses.
  • The Trustees considered the information provided Cazenove on a……. who were managing some of the Trust’s money. They considered the advice about investments in light of the changing economic climate. They discussed the format of the information provided by Cazenove and resolved to ask for a summary setting out profits, losses, tax and fees in future.
  • The Trustees discussed Data Protection Policy Documents. Elaine Motion was appointed Data Protection Officer. The Trustees agreed that Data Protection Act issues should become a regular agenda item.
  • The Trustees considered whether it would be appropriate for solicitors to consider paying awards of less than £50,000 in to the Court Funds Office. They resolved not to do so in light of the very low interest rate.
  • The Trustees agreed that Field Fisher Waterhouse would arrange a meeting with the Department of Health to confirm their decision to amend their investment strategy to include an element of equities in the portfolio.