Hospital to be repaid charity funds

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The Independent Online

A hospital is to be repaid £6.5 million of charity funds which it lost in the Icelandic banking crash, health bosses said.

The collapse of the bank Kaupthing Singer and Friedlander last year drained the money given by volunteers and charity workers to the Christie Hospital in Manchester.

The leading cancer centre, which treats more than 40,000 patients a year, launched a legal bid to recoup the full amount after the Financial Services Compensation Scheme rejected its claim.

An application for a judicial review of that decision in March has now been called off after NHS North West stepped in to reimburse the hospital with Government money.

Last month, supporters of the Christie travelled to Downing Street to deliver a petition with 100,000 signatures to Prime Minister Gordon Brown.

NHS North West, the strategic health authority for the region, said it had "identified opportunities" from its Government-funded building development schemes to find the cash.

Caroline Shaw, chief executive of the Christie, said: "We have always been determined not to rest until this money was returned to us.

"I want to personally thank the 100,000 people who got behind the campaign for their fantastic support.

"As an organisation, we rely heavily on people's generosity to help fund our work, and with continued support we can go on to save more lives."

The cash was invested in the UK-regulated bank last summer following financial advice given to the hospital and was earmarked for vital future cancer developments.