Decision ID: 000453
In April 1995 the 1971 Fund Executive Committee reconsidered a claim by a company (Shetland Sea Farms) farming salmon within the exclusion zone established by the United Kingdom Government which had contracted to buy smolt at a predetermined price to place in cages, but that due to the contamination had been forced to sell the smolt at a loss and had also suffered a loss of profit through not growing the fish. It was recalled that the claimant, the smolt supplier and the company which eventually bought the smolt belonged to a group of companies with a common major share holding and was controlled by a single individual who was a director of all the companies in the group. The Committee had orginally rejected the claim on the grounds that due to the close link between the three companies it had not been shown that the group had suffered any loss in relation to the smolt in question. In the light of a further examination of the claim and the Director’s view that the claim was admissible in principle, the Committee authorised the Director to enter into settlement negotiations. The Committee, in emphasising the obligation of claimants to mitigate their losses, took the view that account should be taken of any benefits derived by other companies in the same group.