Stuart McKechnie settles record £28 million claim
News | Fri 17th Mar, 2017
Stuart McKechnie, instructed by Stewarts Law and led by Frank Burton QC, has today achieved High Court approval on a record breaking claim with a capitalised equivalent value of £28 million.
The infant claimant, who was 3 ½ years old at the time of the RTA and 8 years old at settlement, sustained catastrophic brain injury resulting in profound disability, 24/7 care, extensive therapeutic input and a need for specialist accommodation. Stuart was instructed as junior counsel on the case from the very outset and worked closely with Perry Redgrave from Stewarts Law over a period of 4 years leading up to a settlement meeting on 14th January 2017. At that meeting, which was Frank Burton QC’s very last commitment at the Bar before retirement, the parties agreed a settlement based on a variable PPO covering future care and case management needs and a lump sum of £4.9 million. At the same time, in view of the impending announcement of the outcome of the discount rate review, the parties agreed a formula for recalculating the future recurring losses element of lump sum damages in the event that the discount rate was reduced.
As a result of the reduction in the discount rate to -0.75%, the parties agreed a revised lump sum figure of £9,113,074. When combined with the agreed PPO for care and case management across the Claimant’s life expectancy, the settlement has a combined capitalised equivalent of £28 million. The settlement was approved at a hearing before Mr. Justice Foskett on 17th March 2017, at which Stuart represented the Claimant. It is believed to be the highest personal injury award ever approved by a Court.
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