Decision ID: 001610

In October 2004 the 1971 Fund Administrative Council, recalling that the 1971 Fund’s liabilities in respect of this incident were covered by insurance, noted that in order to avoid a protracted litigation and in the absence of realistic prospects of breaching the right of limitation of the owner of the colliding vessel (Rowan) and in the interests of making progress towards the winding up of the 1971 Fund, the Fund, in co-operation with its insurer, had held discussions with the Rowan interests for the purpose of settling the issue of recovery out-of-court, and that in July 2004 an out-of-court settlement has been reached. The Council noted that under the terms of the settlement agreement the Rowan interests had paid £185,000 and that under the insurance policy the Fund’s insurer had been entitled to receive the recovered amount. The Council noted that as a result of the settlement all legal actions that had commenced by the 1971 Fund against the Rowan interests had been terminated.

Date: 30.09.2004
Category: Legal actions
Subject: Legal actions against shipowners