Decision ID: 002910

In October 2005 the 1992 Fund Executive Committee agreed with the Director’s proposal as to the increase in the level of payments (from 15% to 30%), the distribution of the amount payable by the 1992 Fund (minus a reserve of 10%) to Spain (85.9%), Portugal (0.55%) and France (13.55%) and the provisions of undertakings and guarantees by the respective Governments. The Committee authorised the Director to pay €57 365 000 to the Spanish Government and €740 000 to the Portugese Government, and to pay to each claimant in France, except the French Government,30% of the loss or damage as assessed by the Fund or as decided by a final judgement by a competent court, subject to certain undertakings and guarantees being given by the three Governments.

Date: 30.09.2005
Category: Compensation payments
Subjects: Payments against bank guarantees, Payments against Government guarantees