Decision ID: 000817

In October 1997 the 1971 Fund Executive Committee noted the United Kingdom Government’s undertaking that if and to the extent that its claim were to result in the total amount of the established claims exceeding the maximum amount of compensation available under the 1969 Civil Liability and 1971 Fund Conventions, the Government would not pursue its claim, in its entirety or in part, against the 1971 Fund, and would instead pursue it against Cristal Ltd. In the light of this undertaking the Committee considered that the amount available under the CRISTAL Contract in respect of the United Kingdom Government’s claim would constitute sufficient security against overpayment by the 1971 Fund. The Committee therefore authorised the Director to increase the Fund’s payments to 100% of the damage actually suffered by each claimant as assessed by the experts engaged by the 1971 Fund and the shipowner’s insurer.

Date: 30.09.1997
Category: Compensation payments
Subject: Claims offered as security against Funds' overpayment