Decision ID: 000227

In March 1993 the 1971 Fund Executive Committee, noting the disproportionatly high legal costs that would be incurred in establishing the limitation fund compared with the low limitation amounts under the Civil Liability Convention, authorised the Director to waive the requirement to establish the limitation fund.

Date: 01.03.1993
Category: Financial limits, limitation proceedings and indemnification
Subject: Establishment of the shipowner's limitation fund