Decision ID: 000138

In October 1989, taking into account the Memorandum of Understanding signed in 1985 between the Japan P&I Club and the 1971 Fund, and in view of the disproportionately high legal costs in establishing the limitation fund compared with the low limitation amount, the 1971 Fund Executive Committee authorised the Director to waive the requirement to establish the limitation fund. The Committee instructed the Director to prepare a document for submission at its September 1990 session concerning the special problems caused by incidents involving small vessels.

Date: 30.09.1989
Category: Financial limits, limitation proceedings and indemnification
Subject: Establishment of the shipowner's limitation fund