Decisión nº: 001456

In May 2003 the 1971 Fund Executive Committee, in the light of estimates of the losses in Spain and France given by the Spanish and French delegations, decided that the 1992 Fund’s payments should, for the time being, be limited to 15% of the loss or damage actually suffered by the respective claimants. The Committee also decided that, contrary to practice and established policy, the Fund should make payments to claimants from the outset, although the shipowner’s insurer would not pay compensation directly to claimants, but would instead deposit the limitation fund in a Spanish court.