Decision ID: 003288

In July 2003 the 1971 Fund Administative Council, recalling the position taken by the governing bodies of the 1971 and 1992 Funds that claims for compensation for damage to the marine environment calculated on the basis of theoretical models were not admissible and that compensation could be granted only if a claimant had suffered a quantifiable econiomic loss, noted that the components of the claims by the Republic of Venezuela set out in paragraphe 3.2 of document 71FUND/AC.11/2 did not relate to pollution damage falling within the scope of the 1969 Civil Liability Convention and the 1971 Fund Convention and that these claims should therefore be treated as not admissible.