Decision ID: 000667

In October 1996 the 1971 Fund Executive Committee considered a proposal by the lawyer representing the fishery co-operatives that all parties should conclude a non-binding agreement as regards the quantum of the claims for the purpose of distributing the shipowner’s limitation fund. The Committee endorsed the Director’s decision not to accept the proposal, since such an agreement could prejudice the position of the Fund if, as likely, the Court were to render a decision on the basis of such a non-binding agreement between the parties. The Committee shared the Director’s view that under Article 7.6 of the Fund Convention, if the Fund intervened in proceedings relating to an action for compensation against the shipowner/insurer the judgement rendered in those proceedings would become binding upon the Fund as regards the facts and findings.

Date: 30.09.1996
Categories: Legal actions, Financial limits, limitation proceedings and indemnification
Subjects: Limitation proceedings, subrogated claims and distribution of the shipowner's limitation fund under Article V of the 1969 and 1992 Civil Liability Conventions, Limitation proceedings, subrogated claims and distribution of the shipowner's limitation fund under Article V of the 1969 and 1992 Civil Liability Conventions