Mr Aleksander Fjeldberg Taule

Aleksander Fjeldberg Taule

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Shipping & Transport

Supreme Court clarifies distribution of interest component in global limitation fund
Norway | 09 January 2019

In a recent judgment in the Full City limitation fund proceedings, the Supreme Court clarified how a global limitation fund established pursuant to the Norwegian Maritime Code should be distributed. The court held that the interest component in the limitation fund should be distributed only on the claims for interest and not on the other claims filed in the fund because vessel owners' limitation of liability should remain the same regardless of whether a limitation fund is established.