Decision ID: 000502

In October 1995 the 1971 Fund Executive Committee authorised the Director to make final settlements as to the quantum of all claims arising out of the incident to the extent that the claims did not give rise to questions of principle that had not been previously decided by the Committee. However, in view of the Committee’s concern that the total amount of the estblished claims might exceed the total amount of compensation available, it did not authorise the Director to make payments at that stage, but instructed him to include in any settlement agreement a proviso qualifying the Fund’s obligation to pay the amount agreed in the event that the total amount of the established claims were to exceed 60 million SDR.