38. Eckler Partners Ltd. ("Eckler Partners")
was retained by Class Counsel and subsequently the Joint
Committee to provide actuarial advice in respect of the
Trust.
39. Attached as Schedule
"M" is a description of the activities of
Eckler Partners during the year ended March 31, 2001.
40. The Courts approved preliminary start-up fees of $4,782.00
and an annual budget for Eckler Partners of $36,000.00 for
the year ended March 31, 2001 to be paid in monthly instalments
of $3,000.00.
41. Attached hereto and marked as Schedule
"N" is a statement of the actual charges incurred
by Eckler Partners for the period ended March 31, 2000.
The total charges inclusive of GST were $22,079.45. This
leaves a credit to the Trust Fund of $13,920.55. Eckler
Partners will play a major role in the preparation of the
actuarial study to be presented to the Court in June of
2002. Accordingly, the Joint Committee anticipates that
the expenses incurred by Eckler Partners in the fiscal year
ending March 31, 2002 will be significantly greater than
the actual charges incurred in the previous year. Accordingly,
the Joint Committee is recommending an increase in the budget
of Eckler Partners to $68,000.00 exclusive of GST. Eckler
Partners may charge Royal Trust a monthly amount of $5,666.67
exclusive of GST. The first payment will be in July for
an amount equal to $2,766.71 plus GST in order that the
Trust Fund recover the overpayment from the past year and
payment as per the budget set out above for the months of
March and April, 2001 which months had been paid at the
previously approved rate. The calculation is set out in
Schedule "O".
42. The Joint Committee anticipates that as work in respect
of the June 2002 actuarial report intensifies it will seek
an order from the Court for further payment to Eckler Partners.
The calculation is set out in Schedule
O.
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