Decision ID: 000903

In April 1998 the 1971 Fund Executive Committee decided, in view of the disproportionately high legal costs involved in establishing the limitation fund compared with the low limitation amount under the 1969 Civil Liability Convention in this case, and bearing in mind previous Committee decisions in similar cases, to waive the requirement to establish the limitation fund so that the 1971 Fund could, as an exception, pay compensation and indemnification without the limitation fund being established.

Date: 31.03.1998
Category: Financial limits, limitation proceedings and indemnification
Subject: Establishment of the shipowner's limitation fund