Decision ID: 000092

In September 1983 the 1971 Fund Executive Committee approved the claim by the shipowner’s insurer for clean-up costs totalling DM20 170 353 (£5.2 million). As regards the claim by the insurer for interest, which had been rejected by the liquidator of the limitation fund on the ground that no interest was payable under German law, the Committee authorised the Director to negotiate this item of the claim and to agree on the amount of interest payable, if any. The Committee expressed the opinion that the Director should take into account on the one hand the legal opinion of the liquidator of the limitation fund and on the other hand that the Fund should not discourage insurers from organising clean-up if the expenses for these operations exceeded the shipowner’s limit of liability under the Civil Liability Convention.

Date: 31.08.1983
Category: Compensation payments
Subject: Interest