On Monday 24th July 2017, the President of the High Court approved additional payments totaling some €13m to be made to five clients of Augustus Cullen Law Each of these cases had previously settled for a sum calculated on the basis of a real rate of return of 3% when calculating any future costs which the Plaintiffs would incur as a result of their catastrophic personal injuries. However, as part of the terms of settlement, Augustus Cullen Law secured an agreement that the Plaintiffs would receive an uplift on their agreed settlements in the event of separate litigation in the case of Russell –v- the Health Service Executive resulting in the real rate of return being fixed at a rate of less than 3%.
In February 2017 the litigation in the Russell case concluded with the real rate of return having been reduced from 3% to 1% - 1.5% meaning Plaintiff’s would likely obtain significantly increased damages in future. However, the terms of settlement negotiated by Augustus Cullen Law while the Russell litigation was ongoing means that our clients who settled their actions prior to the conclusion of the Russell litigation will now also benefit from the revised real rates of return being used.
As a result, this week Mr. Justice Peter Kelly, President of the High Court, approved the payment of further damages in cases of Isabelle Sheehan (uplift of €3.9m), Eoin Dunne (uplift of €3.5m), Roisin Conroy (uplift of €2.89m), Emily Casey (uplift of €1.45m) and Nadine Wilkin (uplift of €1.24m). The additional funds secured for these catastrophically injured Plaintiff’s will go towards ensuring that their significant care needs can be met for the remainder of their lives.
24 July 2017