UN Iraq Compensation Awards Rise To $43.6 Billion

GOVERNING COUNCIL OF UNITED NATIONS COMPENSATION COMMISSION APPROVES AWARDS OF APPROXIMATELY $1 BILLION FOR COMPENSATION

(Reissued as received.)

GENEVA, 3 October (UN Information Service) -- The Governing Council of the United Nations Compensation Commission, under the Presidency of Ambassador Sverre Bergh Johansen (Norway), has concluded its forty-fifth session today and approved awards of $995,825,094.18for compensation. Representatives of Kuwait, Iraq, Iran, the Philippines, and Palestine addressed the 15-member Governing Council at its opening plenary meeting.

The Council approved seven reports and recommendations of the panels of Commissioners concerning claims from individuals in category "D", claims from corporations in category "E", and claims from Governments in category "F":

Part one of the fourteenth instalment of category "D" claims (individual claims for losses over $100,000) involved 308 claims filed on behalf of individuals by six Governments. Of these, 290 claims filed by six Governments were recommended for compensation, with a total award value of $87,029,015.18;

The eleventh instalment of category "E2" claims (non-Kuwaiti claims, excluding oil sector, construction/engineering and export guarantee and insurance claims) involved 221 claims filed on behalf of corporations by 25 governments. Of these, 104 claims filed by 20 governments were approved by the Council for compensation, with a total award value of $48,442,799;

The twenty-fourth instalment of category "E3" claims (non-Kuwaiti construction and engineering claims) involved 12 claims filed on behalf of corporations by nine governments. Of these, five claims filed by five governments were approved by the Council for compensation, with a total award value of $2,734,966.

The twenty-second instalment of category "E4" claims (Kuwaiti claims, excluding oil sector claims) involved 139 claims filed on behalf of corporations by the Government of Kuwait. Of these, 133 claims were approved by the Council for compensation, with a total award value of $58,718,327;

The twenty-fourth instalment of category "E4" claims involved 151 claims filed on behalf of corporations by the Government of Kuwait. Of these, 149 claims

were approved by the Council for compensation, with a total award value of $84,468,462;

The second instalment of category "F4" claims (environmental claims filed by governments) involved 31 claims filed by nine governments. Of these, 22 claims filed by eight governments were approved by the Council for compensation, with a total award value of $711,087,737;

The third instalment of category "E/F" claims (claims filed on behalf of insurance companies and export credit agencies) involved 40 claims filed by eight governments. Of these, five claims filed by four governments were approved by the Council for compensation, with a total award value of $3,343,788;

The Governing Council also approved the "Special report and recommendations made by the 'E4' and 'E4A' panels of Commissioners concerning overlapping claims", prepared pursuant to its decision 123.

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 by governmentsof payments to successful claimants, the transparency of the distribution process, and the return of undistributed funds.

The Council decided to hold its next regular session from 10 to 12 December.

To date, the Commission has awarded compensation of approximately

$43.6billion, including the awards approved in the forty-fifth session; over $15.5 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.

ENDS

© Scoop Media