Decision ID: 000439

In October 1994 the 1971 Fund Executive Committee authorised the Director to waive the requirement to establish the limitation fund, in view of the disproportionally high legal costs that would be incurred in establishing that fund compared with the low limitation amount under the 1969 Civil Liability Convention.

Date: 30.09.1994
Category: Financial limits, limitation proceedings and indemnification
Subject: Establishment of the shipowner's limitation fund