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2002 Annual Report

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Report of Fund Counsel

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

64. In the 12-month period ending March 31, 2002, the total trust Fund Counsel fees and disbursements were $661,595.95 exclusive of taxes. No amounts have been or will be paid to trust Fund Counsel without prior court approval of the fees and disbursements. The Joint Committee and trust Fund Counsel estimate that the fees for the year April 1, 2002 to March 31, 2003 will be in the same range as the past fees. The volume and complexity 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.

65. Attached hereto and marked as Schedule "R" is a report of trust Fund Counsel on their activities in the 12 months ending March 31, 2002 and on their incurred fees