Decision ID: 003826
In October 2011 the 1992 Fund Executive Committee noted that on 14 October 2011 the Acting Director had signed, on behalf of the 1992 Fund, a global settlement in respect of the Erika incident with Steamship Mutual (acting on its own behalf and also on behalf of the shipowner’s interests), RINA and Total. The Committee noted that the main objective of the global settlement was to ensure that civil parties who had been awarded compensation by the judgement of the Criminal Court of Appeal in Paris received compensation as soon as possible and that the vast majority of the civil parties had agreed to receive compensation.
In October 2011, the 1992 Fund Executive Committee noted that under the global settlement the 1992 Fund would continue to handle the 13 pending legal actions brought against it, totalling some €19.9 million, and would pay in accordance with judgements. It further noted that, as a result of the global settlement and the various contributions of the settling parties, the 1992 Fund would be able to reimburse its contributors.