All parties involved in the mediation on the limitation proceedings in London for the RENA have by mid November 2013 reached an agreement on the distribution of the limitation fund.
The initially expected dividend ratio in relation to the total cargo values compared to the limitation fund was in the region of only 15%, however, apparently a significant number of cargo interests did not file their claims in the limitation proceedings so that now a dividend of about 38% may be expected which is a great success also for the cargo interests represented by ZASS.
In the MOL COMFORT limitation proceedings in Tokyo a similar scenario may happen in that a significant number of cargo interests did not timely file their claims within the limitation proceedings in the Tokyo District Court in which ZASS is representing some 110 shipments [see previous news]. Also here this may result in a higher dividend than initially estimated.
[2013-11-30, 10:00 GMT]
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