Fifty Seventh Meeting – 12 April 2013

  • The Minutes and Resolutions of the previous meeting were approved.
  • It was reported that there were 176 victims as at 1 April 2013, according to the figures on the National CJD Surveillance Unit website. However, Field Fisher Waterhouse were aware of 182 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 401 claims for £5,000 Psychiatric Injury, 216 claims for Particular Emotional Hardship, and 45 claims for Particular Financial Hardship.
  • The meeting included consideration of 3 claims for Psychiatric Injury and 3 for Particular Financial Hardship.
  • £40,931,511.87 had been paid in compensation by the date of the meeting, £14,332,208.63 had been paid for costs, expenses and taxes, which included £5,349,356.54 in relation to Charles Russell’s fees (inc VAT), £378,736.49 in relation to Field Fisher Waterhouse’s fees (inc VAT), £3,574,020.82 to Irwin Mitchell’s fees (inc VAT) and £268,867.44 in relation to other solicitors’ fees and expenses.
  • The Trustees considered the progress of the Trust’s investment with Cazenove. They agreed that the main priority was the preservation of the Fund. The Trustees decided to take no action in relation to their financial affairs until they received advice from Cazenove and had the opportunity to discuss their position as a group.
  • The Trustees considered the position in relation to a lost beneficiary and also with regard to compensation which had been fraudulently withdrawn. The Trustees resolved that any decision relating to protecting compensation for a minor was a matter for the minor’s solicitor.
  • The Trustees had considered the adequacy of the Trust Deed and agreed that it remained fit for purpose.
  • The Trustees resolved to increase the Basic Sum by a further 2% for the period 31 March 2013 – 30 March 2-14. The Basic Sum for Victims diagnosed on or after 31 March 2013 would be £124,848.
  • The Trustees resolved not to retrospectively increase dependency sums. Whilst they indicated that they were willing to increase the notional income figures in line with the rate of increase of average earnings, they felt that any such decision would be premature as the figures were last increased in October 2012, and therefore resolved not to increase them at this time.
  • The Trustees resolved to re-appoint David Stevens as a Trustee for a further five year term.