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2001 Annual Report

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Report of Fund Counsel

55. Carolyn Horkins and John Callaghan were appointed as Fund Counsel in the Ontario Class Actions by Order of the Ontario Court of Justice for Ontario. Mason Poplaw was appointed Fund Counsel in the Quebec Class Actions by Order of the Quebec Superior Court and Bill Ferguson was appointed Fund Counsel in the B.C. Class Actions by Order of the B.C. Supreme Court.

56. In the 16 month period ending March 31, 2001, the total Fund Counsel fees and disbursements were $940,000 exclusive of GST and PST. No amounts have been or will be paid to Fund Counsel without prior court approval of the fees and disbursements. The Joint Committee and Fund Counsel estimate that the fees for the year April 1, 2001 to March 31, 2002 will be in the same range as the past fees. Less time will be spent on start up and administrative functions. However, it is expected that the volume of appeal work will increase. Disbursements may be higher as the Fund Counsel may have to travel to the Class Member's locale for some of the hearings.

57. Attached hereto and marked as Schedule "U" is a report of Fund Counsel on their activities in the 16 months ending March 31, 2001.

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