The claimant personal injury department at Exchange Chambers has secured over £50 million for clients with life-changing injuries during November 2017 – the team’s best ever performance and highest monthly total.
Settlements during November have included £14 million for a 26-year old tetraplegic with traumatic brain injury (Will Waldron QC and Mark Mulrooney), £13.25 million for a 21-year old with severe spinal injury (Bill Braithwaite QC and Chris Barnes) and £11 million for a 24-year old with severe brain injury (Gerard Martin QC). There have also been numerous awards of between £1 and £5 million.
Commenting on the team’s success, Head of Chambers Bill Braithwaite QC said:
“November has been the best month in our history for high value, personal injury settlements. Our silks and juniors have settled complex claims across the whole of England and Wales.”
In September 2017 the Lord Chancellor set out long-awaited proposals for calculating the ‘discount rate’ applied to personal injury settlements. The current rate of minus 0.75% was set by former Lord Chancellor Liz Truss in February. The latest statement says that, if the new system were to be applied today, the rate might be ’in the region of 0% to 1%’.
Referring to recent changes to the discount rate, Bill Braithwaite QC added:
“Although the Government has backtracked on February’s discount rate reduction, for now the rate remains at minus 0.75% and we are settling claims accordingly. During November, two of our silks have achieved their highest ever settlements for clients with serious, life changing injuries.”
Concluded Bill, who has represented over one thousand catastrophically injured claimants, and regularly recovers more than £50 million a year in compensation:
“Let’s be clear – for many years, claimants who have suffered significant or catastrophic injuries have been under-compensated. While the discount rate remains at minus 0.75% there is a window of opportunity, albeit a small one, to redress the balance.”