Decision ID: 000757

In April 1997 the 1971 Fund Executive Committee agreed that the Director should hold discussions with the Korean authorities concerning the most appropriate way of dealing with the oil remaining in the sunken wreck, whilst not involving the Fund in carrying out operations to inspect the wreck, make repairs to prevent the further escape of oil or remove the oil from the wreck. The Committee also agreed that the Fund could not guarantee to pay the costs of any such operations, but that these costs would have to be presented as a claim for compensation which would be assessed as to its admissibility on the basis of the criteria laid down by the Fund’s governing bodies.