Decision ID: 001430

In February 2003 the 1992 Fund Executive Committee noted that the 1992 Fund had in December 2002 brought legal action in the Tribunal de Grande Instance (Civil Court) in Lorient against the registered owner of the Erika (Tevere Shipping Co Ltd), the P&I insurer (Steamship Mutual), the manager of the ship (Panship Management & Services Srl), the time charterer (Selmont International Inc), the shipper (Total Raffinage Distribution SA), the seller of the cargo (Total International Ltd), the voyage charterer (Total Transport Corporation) and the holding company (Total Fina Elf SA (formerly Total Fina SA)). The Committee also noted that the Director had been made aware of the fact that the classification society Bureau Veritas had inspected the Erika prior to transfer of class to RINA and that the 1992 Fund had taken recourse action, as a protective measure, against Bureau Veritas in the above action in Lorient.