Decision ID: 003889

In October 2012 the 1971 Fund Administrative Council decided to maintain its decision taken in March 2011, and which had been reconfirmed subsequently in October 2011 and April 2012, to instruct the Director not to make any payment in respect of the Plate Princess incident and to oppose the enforcement of the judgement by the Court of Appeal ordering the 1971 Fund, although not a defendant, to pay BsF 400 628 022 (£58.8 million) plus costs. The 1971 Fund Administrative Council also instructed the Director to continue to defend the interests of the 1971 Fund in any legal court actions in Venezuela.

Date: 18.10.2012
Category: Legal actions
Subject: Enforceability of judgements