Decision ID: 001167

In October 2000 the 1992 Fund Executive Committee considered the question of the level of the 1992 Fund’s payments in the light of the results of a further study carried out within the French Ministry of Economy, Finance and Industry on the extent of the damage caused by the incident on the tourism industry. The Committee noted that the latest (October 2000) study had indicated a considerable reduction in the potential risk compared with the earlier (June 2000) study. It was also noted that the October 2000 study had been based on the Fund’s admissibility criteria, but that the Director had been advised that the French courts might take a more extensive approach in their interpretation of the notion of pollution ‘damage’. The Committee decided that in view of the continuing uncertainty as to the total amount of the claims arising from the incident, the level of payments should be maintained at 50%, but should be reviewed at its 11th session in January 2001.