The governing bodies of the IOPC Funds held meetings from Tuesday 6 to Friday 9 May 2014 at the headquarters of the International Maritime Organization (IMO) in London.
Sixty-three States, representing 56 Member States of the 1992 Fund, 47 former 1971 Fund Member States and five observer States, as well as ten observer organisations, attended sessions of the 1992 Fund Administrative Council, the 1992 Fund Executive Committee and the 1971 Fund Administrative Council.
High on the week’s agenda were the discussions of the winding up of the 1971 Fund and the developments in the remaining five incidents involving the 1971 Fund. The 1971 Fund Administrative Council took a number of key decisions in that respect, as set out below, some of which were taken in closed sessions attended only by former 1971 Fund Member States and the Secretariat.
Incidents involving the 1971 Fund
The 1971 Fund Administrative Council noted that of the five remaining 1971 Fund incidents with claims pending, the Vistabella, Aegean Sea and Plate Princess incidents were now considered closed as far as the 1971 Fund was concerned. The Council noted a number of developments in respect of the last two remaining open incidents.
A brief summary of the key decisions taken during the third meeting of the seventh intersessional Working Group is available here
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About the IOPC Funds The International Oil Pollution Compensation Funds (IOPC Funds) provide financial compensation for oil pollution damage that occurs in Member States, resulting from spills of persistent oil from tankers. The history of the IOPC Funds began with the oil spill from the Torrey Canyon, which ran aground near the Scilly Isles in 1967, fouling UK and French coastlines. This incident exposed a number of serious shortcomings, in particular the absence of an international agreement on liability and compensation in the event of such a spill. It led the international community to establish, under the auspices of the International Maritime Organization (IMO), a regime for compensation for victims of oil pollution. Since their establishment, the 1992 Fund and the preceding 1971 Fund have been involved in 147 incidents of varying sizes all over the world. Learn more at www.iopcfunds.org |
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