Decision ID: 000593

In May 1992 the 1971 Fund Executive Committee instructed the Director to pursue the Fund’s oppostion to the decision by the Court of first instance that the maximum amount payable by the Fund under Article 4.4 of the 1971 Fund Convention should be calculated by the application of the free market value of gold, which gave an amount of £360 million instead of £48 million as maintained by the Fund.

Date: 30.04.1992
Category: Financial limits, limitation proceedings and indemnification
Subject: Limitation proceedings, subrogated claims and distribution of the shipowner's limitation fund under Article V of the 1969 and 1992 Civil Liability Conventions