Decision ID: 000264

In June 1993 the 1971 Fund Executive Committee decided that measures to prevent or minimise pure economic loss should be considered as preventive measures provided that the costs of the measures were reasonable and not disproportionate to the further damage or loss that they were intended to mitigate, that the measures were appropriate, offered a reasonable prospect of success and in the case of marketing campaigns, related to actual targeted markets. The Committee decided that the Fund should, in principle, only consider such claims once the activities had been carried out, but since the claimant in question did not have sufficient economic resourses, it decided to authorise the Director to make advance payments up to a maximum of £1.5 million.

Date: 31.05.1993
Categories: Compensation payments, Preventive measures, Pure economic loss (fisheries and mariculture), Pure economic loss (general)
Subjects: Hardship/provisional payments, Interpretation of the definition of 'preventive measures' in Article I.7 of the 1969 and 1992 Civil Liabilty Conventions., Marketing campaigns, Specific claims considered by the governing bodies, Admissibility Criteria, Measures to prevent or minimise pure economic loss