Decision ID: 003549

In March 2009 the 1992 Fund Executive Committee, recalling that in September 2008 the Court of Cassation had rendered a decision dismissing the 1992 Fund’s appeal against the ruling by the Arbitration Court in Saint Petersburg and Leningrad Region declaring that the limitation fund had been established by means of a letter of guarantee issued by the shipowner’s insurer Ingosstrakh for 3 million Special Drawing Rights (SDR), noted that in December 2008 the Supreme Court in Moscow had confirmed the decision by the Court of Cassation. It was noted that the 1992 Fund would have to wait for the consideration by the Arbitration Court in Saint Petersburg and Leningrad Region of the Fund’s request that the Arbitration Court reconsiders its earlier decision.

Date: 01.03.2009
Categories: Legal actions, Application of the Conventions, Financial limits, limitation proceedings and indemnification
Subjects: Limitation proceedings, subrogated claims and distribution of the shipowner's limitation fund under Article V of the 1969 and 1992 Civil Liability Conventions, Compulsory insurance, Implementation of the Conventions into national law, Establishment of the shipowner's limitation fund