independent

Thursday 17 April 2014

Q THERE IS A COMPENSATION FUND

The fund compensates clients who have sustained loss as a consequence of dishonesty on the part of a solicitor or an employee of a solicitor.

Q WHO PAYS FOR IT?

The fund (current level is in excess of €18m) is financed by the country's solicitors, who each year pay more than €2,000 a year for a practice certificate.

Q WHY CAN'T FAMILIES BE COMPENSATED FOR PROPERTY-VALUE LOSS?

The Compensation Fund is a statutory scheme, akin to a trust. Therefore it cannot pay out general damages to a solicitor's client who has been deprived of money. Families can't sue when their homes were sold at a much lesser price than the initial offer.

Irish Independent

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