Decision ID: 003285

In June 2001 the 1971 Fund Administratice Council, recalling that the 1971 Fund had as instructed by the Executive Committee at its 61st session lodged appeal against a judgement by the District Court to award compensation to the Yosu Fisheries Co-operative in respect of loss of earnings due to business interruption caused by clean-up of licensed common fishery grounds and intertidal culture farms, noted that the Appellate Court had in May 2001 upheld the decison by the District Court.The Council further noted that in view of the fact that the Fund’s position on matters of principle in respect of claims by this Co-operative had been acccepted by the Appellate Court, i.e. that compensation should not be granted for pain and suffering and for losses in respect of unlicensed and unregistered fishing activities, the Director had decided not to appeal against the decision by the Appellate Court in respect of the claims in question.

Date: 31.05.2001
Categories: Legal actions, Pure economic loss (fisheries and mariculture)
Subjects: Judgements in respect of claims for pure economic loss, Admissibility criteria, Assessment of quantum, Loss of income from fishing due to contamination of fishing grounds or imposition of fishing bans, Loss of income from mariculture due to business interruption as a result of oil pollution, Specific claims considered by the governing bodies