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ARTICLE · 30 DECEMBER 2015

The Russell Decision: The "Real Rate Of Return" Case

Arthur Cox
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The Court of Appeal recently upheld the decision of the High Court in Gill Russell (a minor) v HSE, to reduce the real rate of return from the traditional 3% to a rate of return of between 1% and 1.5%.

IrelandLitigation, Mediation & Arbitration
Arthur Cox
Arthur Cox
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The Court of Appeal recently upheld the decision of the High Court in Gill Russell (a minor) v HSE, to reduce the real rate of return from the traditional 3% (the "Reddy v Bates deduction") to a rate of return of between 1% and 1.5%.

The real rate of return is the annual percentage return realised on an investment, which is adjusted for changes in prices due to inflation or other external effects. The lower the rate of return applied to a lump sum award, the higher the award will be.

This important decision means that lump sum awards in favour of persons with catastrophic or long-term injuries will be significantly higher in the future.

THE GILL RUSSELL CASE

Gill Russell, a minor, suffered catastrophic injuries at birth and requires 24-hour medical care for the rest of his life.

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