Decision ID: 001599
In October 2004 the 1992 Fund Executive Committee held a meeting in private (during which only representatives of the 1992 Fund Member States were present) to consider whether the 1992 Fund should take recourse action against the American Bureau of Shipping (ABS). The Committee decided that the 1992 Fund should not take recourse action against ABS in the United States, but decided to defer any decision on recourse action against ABS in Spain until further details surrounding the cause of the Prestige incident came to light. The Director was instructed to follow the ongoing litigation in the United States, follow the ongoing investigations into the cause of the incident and take any steps necessary to protect the Fund’s interests in any relevant jurisdiction. The Committee decided that this decision was without prejudice to the Fund’s position vis-à-vis legal actions against other parties.