Decision ID: 001616

In March 2005 the 1992 Fund Executive Committee,in a session held in private during which only representatives of 1992 Fund Member States were present, considered whether the 1992 Fund should reach an out-of-court settlement of the case. The Committee noted that in the light of the opinion and recommendation of the Schlweswig-Holstein Appeal Court, the shipowner/insurer had made a proposal for a possible out-of-court settlement involving all parties whereby the shipowner/insurer would pay 18% and the 1992 Fund 82% of any proven losses suffered by the German Government as a result of the incident. The Committee decided to authorise the Director to seek an out-of-court settlement with all other parties involved and conclude such a settlement on behalf of the 1992 Fund, provided that the amount to be paid by the shipowner/insurer was increased above the 18% currently on offer.