Decision ID: 000872

In February 1998 the 1971 Fund Executive Committee decided that, in view of the disproportionately high legal costs involved in establishing the limitation fund compared with the limitation amount, and bearing in mind previous Committee decisions, the requirement to establish the limitation fund should, as an exception, be waived.

Date: 01.02.1998
Category: Financial limits, limitation proceedings and indemnification
Subject: Establishment of the shipowner's limitation fund