Decision ID: 000753
In April 1997 the 1992 Fund Assembly took the view, like the 1971 Fund, that the 1992 Fund should exercise caution in the payment of claims if there was a risk that the total amount of claims might exceed the total amount available under the 1992 Civil Liability and Fund Conventions, recognising the need to strike a balance between the importance of paying compensation as promptly as possible and the need to avoid an overpayment situation. Since both the 1971 and 1992 Fund Conventions applied to the incident the 1992 Fund Assembly considered that the level of the 1992 Fund’s payments should be determined by taking into account the amounts available under both Fund Conventions, and that a co-ordinated approach should be taken in respect of payments by the two Organisations. The Assembly decided to authorise the Director to make payments on behalf of the 1992 Fund, but in view of the uncertainty as to the level of the total amount of claims arisng from the incident, the payments should be limited to 60% of the amount of the damage actually suffered by the respective claimants. The Director was instructed to obtain as much additional information as possible on the estimated total amount of claims so that the percentage could be reviewed at the Assembly’s next session.