Decision ID: 003219

In October 2007 the 1971 Fund Administrative Council noted that in January 2007 a settlement had been reached between a company (Shetland Sea Farms) farming salmon within the exclusion zone established by the United Kingdom Government that had based its claim on alleged contracts that had been shown to be false, the shipowner/insurer and the 1971 Fund whereby the claimant had withdrawn its claim and had paid the sums of £75,000 to the shipowner/ insurer and £20,000 to the 1971 Fund as contributions towards the costs incurred in respect of the court action.

Date: 30.09.2007
Categories: Compensation payments, Pure economic loss (fisheries and mariculture)
Subjects: Authorisation to settle claims, Assessment of quantum