Decision ID: 001474

In October 2003 the 1971 Fund Administrative Council decided, in view of the considerable time that could elapse before the limitation amount would be determined by the Court, to authorise the Director to agree with the shipowner’s insurer on an exchange rate between the Special Drawing Right (SDR) and the Korean Won to be applied to establish the limitation amount applicable to the vessel.

Date: 30.09.2003
Categories: Financial limits, limitation proceedings and indemnification, Legal actions
Subjects: Limitation proceedings, subrogated claims and distribution of the shipowner's limitation fund under Article V of the 1969 and 1992 Civil Liability Conventions, Limitation proceedings, subrogated claims and distribution of the shipowner's limitation fund under Article V of the 1969 and 1992 Civil Liability Conventions

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