Decisión nº: 000185

In May 1992 the 1971 Fund Executive Committee instructed the Director to pursue the Fund’s oppostion to the decision by the Court of first instance that the maximum amount payable by the Fund under Article 4.4 of the 1971 Fund Convention should be calculated by the application of the free market value of gold, which gave an amount of £350 million (including the amount paid by the shipowner under the Civil LIability Convention) instead of £47 million as maintained by the Fund.