Decision ID: 000467

In June 1995 the 1971 Fund Executive Committee (in a private session attended only by representatives of Fund Member States and representatives of the shipowner’s insurer) decided to instruct the Director to continue the negotiations with the claimants and to authorise him to agree, on behalf of the Fund, a global settlement of all outstanding claims and issues, subject to a number of terms and conditions. The Committee decided that the offer of a settlement would be open until 31 July 1995 but that this time period could be extended by the Chairman. The Director was authorised to sign binding agreements on behalf of the Fund and make payments to certain claimants if a global settlement were reached.

Date: 31.05.1995
Categories: Compensation payments, Procedural matters
Subjects: Authorisation to settle claims, Sessions held in private pursuant to Rule 12 of the Rules of Procedure