Decision ID: 003980

In May 2014, the 1971 Fund Administrative Council noted the information provided by the Director in respect of the Plate Princess incident, in particular that in February 2014, the Maritime Court of First Instance in Caracas had issued a request to the courts in the United Kingdom for their assistance in serving the judgements rendered by the Venezuelan Courts in respect of the claim by the Puerto Miranda Union on the IOPC Funds. It was further noted that the request included the order of embargo against assets belonging to the IOPC Funds, but that the request did not specify whether it referred to the 1971 Fund or the 1992 Fund or both. The Administrative Council noted that, as at the May 2014 meeting of the governing bodies, the order had not been served upon the 1971 Fund. The Administrative Council requested the Director to advise the Council at its next session of the response of the Foreign and Commonwealth Office with regard to Privileges and Immunities and to inform the 1992 Fund of its possible involvement arising from the judgements of the Venezuelan courts.