Bank crash won’t halt cancer centre

OLDHAM’S new £17 million radiotherapy centre, the first of its kind in England, will go ahead — despite the Christie charity losing £6.5 million in an Icelandic bank crash.

Charity bosses were quick to make the pledge after a decision from the Financial Services Compensation Scheme not to allow their claim for compensation.

The Christie charity had £6.5 million — half of the money it raises each year — invested in the UK regulated bank, Kaupthing Singer and Friedlander (KSF), when it collapsed.

It has now vowed to apply for a judicial review of the shocking decision, and says it will fight it all the way.

The charity believes it has a very strong case to get the £6.5 million returned, and says it has a moral and public duty to pursue it.

The money was raised by members of the public to be used in the fight against cancer by supporting research.

At the same time, Christie is continuing to pursue its application for the return of £1 million of NHS exchequer money from Ernst & Young, the administrators of the KSF bank.

Caroline Shaw, chief executive of the Christie Hospital, said: “We are very disappointed that our application has been rejected.

“We must now move on to the next stage, which is a judicial review aimed at overturning the decision and getting our money returned.”

All the development plans approved by the Christie, including Oldham’s radiotherapy centre which is partially built, will remain in place.

No jobs are affected by the blow, nor does it have any impact on services. However, hospital bosses say it puts future research and plans for new buildings under threat.