Decision ID: 000770
In June 1997 the 1971 Fund Execuitve Committee considered whether the offer by the United Kingdom Government to stand last in the queue with regard to its claim, and the assurances by Cristal Ltd regarding the notification requirements for preventing that claim from becoming time-barred under the CRISTAL Contract, would constitute sufficient security against overpayment by the 1971 Fund and, if so, whether the Committee was prepared to authorise the Director to increase the Fund’s compensation payments to 100% of the damage actually suffered by claimants. The Committee took the view that there remained a considerable degree of uncertainty as to the total amount of the claims, particularly since more than 18 months remained in which claims could be submitted against the Fund, and therefore decided to maintain the level of the Fund’s payments at 75%. The Committee instructed the Director to try to get as much information as possible on the amount of outstanding and potential claims to enable the Committee to reconsider the issue at its 55th (October 1997) session. The Committee also instructed the Director to discuss with Cristal Ltd a practical solution to the problem of notification of claims under the CRISTAL Contract.