A substantial majority of international governments today backed a proposal to wind-up the International Oil Pollution Compensation (IOPC) 1971 Fund at the end of this year.
The move leaves Gard facing a $60m judgment over the Venezuelan spill without the substantial contribution that the IOPC Funds makes to most tanker pollution claims.
It is understood that 29 state delegates voted in favour of winding up the 1971 fund with 14 against and three abstaining.
The
