Decision ID: 002894

In May 2003 the 1992 Fund Administrative Council decided, in light of the significant surplus on the Nakhodka Major Claims Fund, that payments of compensation and expenses relating to the Prestige incident, over and above 4 million SDR payable from the General Fund, should for the period up to 1 March 2004 be financed by loans from the 1992 Fund Nakhodka Major Claims Fund and, if required and possible, from the General Fund or the Erika Major Claims Fund. It was noted that such loans would be repaid with interest in accordance with established practice.