Decision ID: 000457

In April 1995 the 1971 Fund Executive Committee reiterated the Fund’s position that a claim was admissible only to the extent that the quantum of the actual loss was demonstrated, recognising that a certain flexibility would have to be exercised as regards the requirement of proof to be submitted by the claimant in order to demonstate the quantum of his loss, taking into acount the particular situation in the country concerned and in accordance with the conclusions of the 7th intersessional Working Group. The Committee took the view that the findings of a government committee or similar body could not be considered as proof in itself, but was an element which should be taken into consideration for the assessment of the loss suffered, and that other elements should be taken into account, including statistics relating to the level of catches and income from fishing in previous years in the area under consideration.

Date: 31.03.1995
Category: Pure economic loss (general)
Subject: Assessment of quantum