Decision ID: 001460

In October 2003 the 1971 Fund Administrative Council, recalling that the Yeosu Fisheries Co-operative Union had appealed against the decision of the Court of first instance rejecting its claim for lost sales commission, noted that the 1971 Fund had held without prejudice discussions with the Co-operative and had agreed on the quantum of such losses. It was noted that in December 2002 the Appellate Court had rendered a mediation decision in which it accepted the claim for lost sales commission, opining that even if the payments made to the fishermen members of the Co-operative had included the sales commission, this did not exonerate the Fund from its debt payable to the Co-operative, since the former payments did not have the effect of payment to it. It was noted that amount awarded by the Court corresponded to the amount previously agreed between the 1971 Fund and the Co-operative and neither the Co-operative nor the Fund had objected to the mediation decision.

Date: 30.09.2003
Categories: Pure economic loss (fisheries and mariculture), Pure economic loss (general)
Subjects: Loss of sales commission, Loss of sales commission