Decision ID: 000014

In June 1995 the 1971 Fund Executive Committee decided (in a private session attended only by representatives of Fund Member States and representatives of the shipowner’s insurer) to instruct the Director to continue negotiations with the claimants and to authorise the Director to agree, on behalf of the 1971 Fund, to a global settlement of all outstanding claims and issues provided inter alia that, except as regards the shipowner’s ex-gratia payment of £9.7 million, payments would be made only to the extent that a claimant had suffered a quantifiable loss, no payment would be made in respect of claims for damage to the marine environment per se, and all parties to the on-going legal proceedings in Italy would withdraw their actions.