Decisión nº: 001415

In October 2002 the 1971 Fund Administrative Council noted that in connection with the recourse action against the owner of the colliding vessel (Rowan) the hull underwriters of the Singapura Timur was not prepared to enter into an agreement with that vessel’s P&I insurer and the 1971 Fund, a condition of which would have been that any amount paid as a result of a judgement or settlement would be placed in an escrow account until the liabilities of the Singapura Timur interests had been established. The Council instructed the Director to continue discussions with the Singapura Timur interests.