To clients or former clients of the
Court Funds Office and their representatives
An application has been made to the High Court which may affect individuals who have had funds held by the Court Funds Office in Northern Ireland between 1996 and 2010 (see details of proceedings below). We have taken steps to contact all of the individuals concerned by letter. However, as some of the address details we hold are more than 10 years old, it is likely that some letters will not reach the intended recipient. This notice is an attempt to inform those individuals who may be affected by the proceedings, but who have not received a letter from us.
Details of proceedings
The Court Funds Office (CFO) invests monies held in court within a range of investments permitted by law. In order to achieve the best results it can for its clients, the CFO uses professional stockbrokers to provide it with investment advice and keep the investments under review. Since 1996, the stockbrokers have charged management fees for this advice and the amount of these fees has been deducted from CFO clients’ funds.
A question has now arisen as to whether this practice was lawful, that is to say, whether the CFO was permitted to pay for investment advice from individual clients’ funds which benefited from that advice. Given that this has been raised as an issue, the Northern Ireland Courts and Tribunals Service (NICTS) has decided to apply to the High Court for a ruling as to whether these deductions were lawfully made or not. These proceedings have recently been begun. If the Court decides that the deductions were lawful, as NICTS argues, this is unlikely to have any effect on any CFO clients. If the Court decides that the deductions were not lawful, this may result in the deductions being refunded, although what precisely is required will be a matter for the Court.
The interests of CFO clients are being represented in a general way by the Official Solicitor to the Court of Judicature. As such, it is not necessary for any other party to participate in the proceedings.
If, however, you believe you may be affected by the outcome of the case and are interested in applying to participate in the proceedings, or wish to make representations to the Court, you may apply to do so. In these circumstances, you may wish to contact the Official Solicitor’s Office in the first instance for further advice or guidance. Please ensure that, when contacting the Official Solicitor’s Office, you indicate clearly that the matter relates to the High Court proceedings regarding CFO clients’ fees and mark any letters "For the Immediate Attention of the Official Solicitor". The contact details for that office are set out below:
Brenda Donnelly
Official Solicitor to the Court of Judicature
Royal Courts of Justice
Belfast
BT1 3JF
Tel: 028 9072 4722
Fax: 028 9031 3793
A copy of the papers which have been filed with the Court can be inspected at the Departmental Solicitor’s Office, 2nd Floor, Centre House, 79 Chichester Street, Belfast, BT1 4JE. If you wish to arrange an appointment to look at the papers, please telephone the office to arrange this. Alternatively, you can write, telephone or email to ask for a copy of the papers to be sent to you, using the following contact details:
Trevor.Grazier@dfpni.gov.uk (Telephone: 028 90542521) or
Geraldine.Hagan@dfpni.gov.uk (Telephone: 028 90542518)
Court Funds Office
Northern Ireland Courts and Tribunals Service
17 June 2011
