Decision ID: 001458

In July 2003 the 1971 Fund Administrative Council, noting that the Republic of Venezuela appeared to have submitted two claims relating to the same damage, and that the Venezuelan courts should not be able to hold the 1971 Fund liable to pay twice for the same damage, and in the unlikely event they did the Fund would disregard one of the claims, decided to increase the 1971 Fund’s level of payments from 40% to 65% of the loss or damage actually suffered by each claimant.

Date: 30.06.2003
Category: Compensation payments
Subject: Level of payments