UNITED NATIONS COMPENSATION COMMISSION PAYS OUT $690,775,083

30 September 1998

Press Release
IK/251

UNITED NATIONS COMPENSATION COMMISSION PAYS OUT $690,775,083

19980930 GENEVA, 30 September -- The United Nations Compensation Commission today made available $519,520,000 to 67 governments and three international organizations for distribution to 207,808 successful claimants whose claims were resolved in the fourth instalment of category "A" (departure from Iraq or Kuwait) claims. The Commission, also today, made available $171,255,083 to 50 governments and three international organizations for distribution to 70,557 successful claimants whose claims were resolved in the fourth instalment of category "C" (individual losses up to $100,000) claims. The Governing Council of the Compensation Commission is presently holding its twenty-ninth session which will conclude later today. A round-up press release on the session will be issued later in the day. The funding for the payments being made comes from the 30 per cent share of the revenue derived from Iraqi petroleum sold pursuant to Security Council resolutions 986 (1995), 1111 (1997), 1143 (1997) and 1153 (1998). The revenue is received by the Compensation Fund until sufficient funds have accumulated to make available an initial payment to all successful claimants in one instalment of category "A" together with all successful claimants in one instalment of category "C". Claimants are to receive an initial payment of up to $2,500 each. For those whose actual award amount exceeds this figure, additional payments are to be made in the future. The Commission's Governing Council has determined that all successful claimants in categories "A" and "C" should receive up to $2,500 each before any payments may be made from the Compensation Fund to corporations, governments or individuals with claims for losses in excess of $100,000. By the end of 1995, the Compensation Commission had made available $13,450,000 for payment to all successful claimants under category "B" (claims for serious personal injury or death). On 12 March 1997, the Compensation Commission made available $144,019,945 to 63 governments and one international organization for distribution to 57,636 successful claimants whose claims were resolved in the first instalment of category "A" and "C" claims. On 8 October 1997, the Compensation Commission made available $568,972,563 to 75 governments and three international organizations for distribution to 228,575 successful claimants whose claims were resolved in the second instalment of category "A" and "C" claims. On 25 March 1998, the Compensation Commission made available $497,801,535 to 17 governments for distribution to 199,487 successful claimants whose claims were resolved in the third instalment of category "A" and "C" claims. Today's payment brings the overall amount of compensation, made available by the Compensation Commission to date, to a total of $1,915,019,127.

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