UNITED NATIONS COMPENSATION COMMISSION COMMENCES SECOND PHASE OF PAYMENTS, WITH PAYMENT OF $481,224,655.70
Press Release
IK/279
UNITED NATIONS COMPENSATION COMMISSION COMMENCES SECOND PHASE OF PAYMENTS, WITH PAYMENT OF $481,224,655.70
19990923(Reissued as received.)
GENEVA, 23 September (UN Information Service) -- The United Nations Compensation Commission has today made available a total of $481,224,655.70 to 73 governments and nine offices of three international organizations for distribution to 167,730 claimants. This amount includes $243,639,500 for 113,406 claims in category "A" (claims of individuals for departure from Kuwait or Iraq), $232,909,494.70 for 54,124 claims in category "C" (claims of individuals up to $100,000), $3,735,681 for 158 claims in category "E" (claims of corporations, other private legal entities and public sector enterprises), and $939,980 for 42 claims in category "F" (claims of governments), thus, commencing the first payments in the second phase of payments. Payments in respect of claims in category "D" (claims of individuals for losses above $100,000) will be made shortly after the thirty-third session of the Governing Council to be held on 28-30 September.
In the first phase of payments, priority was given to individual claimants in accordance with Governing Council decision 17, and involved an initial payment of $2,500 to each successful claimant in categories A and C, as well as payment of the full amount to all successful claimants in category B (claims for death or serious personal injury). The final payments under the first phase of payment began on 8 July 1999, with payments to date totalling $3,153,203,114.60 to 1,457,900 successful individual claimants in categories A, B and C. In category "A", $2,107,120,000 was paid to 842,866 claimants. In category "B", $13,450,000 was paid to 3,945 claimants. In category "C", $1,032,633,114.60 was paid to 611,089 claimants, out of which $84,393,992 was paid to 223,817 claimants in respect of the Egyptian workers claims.
The present payment marks the initiation of the second phase of payments. The Governing Council has decided in its decision 73 that the Commission will continue to give priority to individual claimants with claims in categories A and C with the aim of achieving full payment of all claims in these categories by the end of 2002, while also providing meaningful compensation to individual claimants over
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$100,000, corporate entities and governments (categories D, E and F). Payments will be made on an instalment basis of $25,000 (or the unpaid principal amount of the award if less) to each successful claimant. Once this amount has been paid, a second payment of $75,000 will be made (or the unpaid principal amount of the award if less).
Funds to pay the awards of compensation are drawn from the United Nations Compensation Fund which receives 30 per cent of the revenue generated from the export of Iraqi petroleum and petroleum products. Funds are made available in accordance with the "oil-for-food" mechanism established by Security Council resolution 986 (1995) and extended by Security Council resolutions 1111 (1997) and 1143 (1997), 1153 (1998), 1210 (1998) and 1242 (1999).
Todays payment brings the overall amount of compensation made available so far by the United Nations Compensation Commission to $3,634,427,770.30.
Further information about the Commission can be found on the United Nations Compensation Commission Web site located at .
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