Decision ID: 003291

In October 2007 the 1971 Fund Administrative Council recalled that in 2002 an agreement had been concluded between the 1971 Fund, the Spanish State, the shipowner and his insurer on a global solution of all outstanding issues in the Aegean Sea case and that under this agreement the Spanish State undertook to compensate all the victims who obtained a final judgement by a Spanish court against the 1971 Fund. The Council noted that six claimants had not reached an agreement with the Spanish Government on the amount of their losses and that the first instance Court had rendered a judgement in respect of the six claims holding that the Government and the 1971 Fund had joint and several liability in respect of these claims, but awarding amounts much lower than those claimed. It was also noted that the Court of Appeal had issued judgements in respect of these claims and that the Court of Appeal had reduced the amount awarded by the Court of first instance in respect of three of these claims, that it had agreed with the Fund’s assessment of the claim in one case, that it had upheld the Court of first instance’s judgement in respect of another claim and that in one case the Court of Appeal had referred the case back to the Court of first instance for a decision on a procedural matter.

Date: 30.09.2007
Category: Legal actions
Subject: Out-of-court settlements