GOVERNING COUNCIL OF UN COMPENSATION COMMISSION APPROVES AWARDS OF $365.3 MILLION

GOVERNING COUNCIL OF UN COMPENSATION COMMISSION

APPROVES AWARDS OF $365.3 MILLION

GENEVA, 27 September (UN Information Service) -- The Governing Council of the United Nations Compensation Commission, under the Presidency of Ambassador Sverre Bergh Johansen (Norway), has today approved awards of $365,317,337 for compensation.

The Council approved sixreports and recommendations of the panels of Commissioners concerning claims from corporations in category “E”, including:

-- the sixth instalment of category “E1” claims (oil sector claims) involved seven claims filed on behalf of corporations by four governments.  Of these, three claims filed by two governments were approved by the Council for compensation, with a total award value of $177,238,654;

-- the eighth instalment of category “E2” claims (non-Kuwaiti claims, excluding oil sector, construction/engineering and export guarantee and insurance claims) involved 218 claims filed on behalf of corporations by 18 governments.  Of these, 42 claims filed by 13 governments were approved by the Council for compensation, with a total award value of $10,086,017;

-- the twentieth instalment of category “E3” claims (non-Kuwaiti construction/engineering claims) involved 11 claims filed on behalf of corporations by nine governments.  Of these, two claims filed by two governments were approved by the Council for compensation, with a total award value of $47,368;

-- the twenty-first instalment of category “E3” claims involved 11 claims filed on behalf of corporations by six governments.  Of these, five claims filed by three governments were approved by the Council for compensation, with a total award value of $3,798,384;

-- the fourteenth instalment of category “E4” claims (Kuwaiti claims, excluding oil sector claims) involved 125 claims filed on behalf of corporations by the Government of Kuwait.  Of these, 121 claims were approved by the Council for compensation, with a total award value of $95,521,456;

-- and the sixteenth instalment of category “E4” claims involved 120 claims filed on behalf of corporations by the Government of Kuwait.  Of these, 118 claims were approved by the Council for compensation, with a total award value of $78,625,458.

Press Release IK/306               - 2 -                   27 September 2001

The Council discussed a progress report of the Executive Secretary on the activities of the Commission.  The report addressed the processing of

claims and the payment of approved awards.  The Council also discussed the report of the Executive Secretary on the distribution of payments awarded to successful claimants, the transparency of the distribution process, and the return of undistributed funds.

Representatives of Kuwait, Iraq, Sri Lanka and Palestine addressed the fifteen-member Governing Council at its opening plenary meeting.

The Council decided to hold its next regular session from 11 to 13 December 2001.

To date, the Commission has awarded compensation of over $35.8billion, including the awards approved in the forty-first session; over $ 12.7 billion of the amount awarded has been made available to governments and international organizations for distribution to successful claimants in all categories of claims.

Further information about the Commission, including the text of Governing Council decisions and reports and recommendations of the panels of Commissioners, can be found on the United Nations Compensation Commission Web site located at www.uncc.ch.

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