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[casi] Compensation fund






Dear all,

I cannot see mention of this in the recent press round-up. Much as
expected, the UN Compensation Council has awarded Kuwait only a fraction of
the Kuwait Investment Authority claims which totalled US$ 72 billion plus
interest of US$ 23 billion. The award, reported in 142 pages, is US$ 1.5
billion.

see http://www.unog.ch/uncc/reports/r03-15.pdf

There remain environmental damage and other similar claims. It will be very
surprising if Compensation Council awards more than 10% of such claims.

Due to the reduced level of funding now expected, the UNCC has decided to
cap quarterly payments at US$ 200 million, paying up to US$ 100,000 on each
outstanding claim in the order of approval.

Mark Galloway




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