Decision ID: 000296

In October 1993 the 1971 Fund Executive Committee decided, in a session held in private during which only the delegations representing the 1971 Fund Member States were present, that in view of the total amount of claims presented in court, and in order to ensure that the provisions of Article 4.5 of the Fund Convention relating to equal treatment of claimants was respected, the Fund should only make partial payments in respect of accepted claims, which should not exceed 30-40% of the amount approved. It was also decided that all payments should be suspended,if attempts were made to enforce against the assets of the Fund an order by the Court in La Coruña that the Fund should provide security for £60 million.

Date: 30.09.1993
Categories: Compensation payments, Procedural matters
Subjects: Level of payments, Sessions held in private pursuant to Rule 12 of the Rules of Procedure