Decision ID: 003511

In June 2008 the 1992 Fund Executive Committee recalled that it had at its 40th (March 2008) session limited the 1992 Fund’s payments to 60% of the amount of the damage actually suffered by the individual claimants. On the basis of new information concerning the total amount of the losses caused by the oil spill, the Committee decided that, in view of the uncertainty as to the total amount of potential claims, and in view of the need to ensure equal treatment of claimants, any payments made by the 1992 Fund should for the time being be limited to 35% of the amount of the damage actually suffered by the respective claimant as assessed by the Fund’s experts. It was noted that the decision to reduce the level of payments would not bring as a result an unequal treatment of claimants, since the 1992 Fund had not yet made any compensation payments. The Committee decided to review the situation at its next session.