Decision ID: 001330

In May 2002 the 1992 Fund Executive Committee and the 1971 Fund Administrative Council both decided that if the investigations by the 1992 Fund’s and 1971 Fund’s legal advisers revealed that the entity registered as the owner of the Al Jaziah 1 or the individual who was the sole proprietor of the entity that had been licensed to trade by the authorities had significant assets, the 1992 Fund and the 1971 Fund respectively should take recourse action against them. The Director was instructed to keep the Committee and the Council informed of any developments so as to enable them to reassess the 1992 Fund’s and 1971 Fund’s position if required.

Date: 31.03.2002
Category: Legal actions
Subject: Legal actions against shipowners