***** The United Nations Compensation Commission (UNCC)..... what is owed and the next meeting of the UNCC

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***** The United Nations Compensation Commission (UNCC)..... what is owed and the next meeting of the UNCC

Post  Admin on Sun Sep 14, 2014 9:45 am

The United Nations Compensation Commission (UNCC) is located in Villa La Pelouse within United Nations Office in Geneva, Switzerland. It was created in 1991 as a subsidiary organ of the United Nations Security Council under Security Council resolution 687 (1991) to process claims and pay compensation for losses and damage suffered as a direct result of Iraq’s unlawful invasion and occupation of Kuwait in 1990-91.

    About 2.7 million claims, with an asserted value of $352.5 billion, were filed with the Commission. The Commission concluded claims-processing in 2005, and the total compensation awarded was $52.4 billion to approximately 1.5 million successful claimants. Nineteen Panels of Commissioners reviewed and evaluated the claims submitted by governments, international organisations, companies and individuals. The panels reported their recommendations to the Governing Council for approval.

    As of 24 July 2014, the Commission had paid out about $46.7 billion in compensation awards to successful claimants. There remains only one claim that has not been paid in full, with a balance of about $5.7 billion outstanding.

This claim was for production and sales losses as a result of damages to Kuwait’s oil-field assets and represents the largest award by the Commission’s Governing Council.


http://www.uncc.ch/


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The Council decided to hold the next regular session from 2-3 October 2014


http://www.uncc.ch/sites/default/files/attachments/documents/77%20close.pdf

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Re: ***** The United Nations Compensation Commission (UNCC)..... what is owed and the next meeting of the UNCC

Post  Admin on Fri Oct 03, 2014 7:56 am

Kuwait: 5.7 billion dollars worth of Iraqi compensation remaining


October 3, 2014 10:51 Last Updated: October 3, 2014 10:51 Source: Direct


Kuwait has confirmed that the remaining amounts of the value of the compensation for the loss of the Iraq war are estimated at 5.7 billion dollars and that after the receipt of $ 1.19 billion on July 24, last up to pay compensation to its final stages. According to the Journal Gazette

The head of the Board of Directors of the Public Authority for Assessment of Compensation for Losses from Iraqi Aggression, Khaled Al-Mudhaf at the opening of the session the 78 of the UN Commission for compensation for the loss of Iraqi aggression that «to promote the further Kuwait receipt of these payments depends on the continued flow of resources into the Compensation Fund in accordance with the Security Council resolutions relevant» .

Deposit regular

He added: «Kuwait stresses the need to continue filing regular in the Compensation Fund for five percent of the proceeds from all export sales of Iraqi petroleum and petroleum products, natural gas, according to UN Security Council Resolution 1956 as well as five percent of the value of any payments other than cash oil, petroleum products and natural gas ».

He said «Kuwait recognizes Iraq's commitment to continuous and this replaces our appreciation and respect» As also stresses «the importance of continuing to maintain a transparent mechanism to ensure scrutiny of the amounts transferred to the Compensation Fund as the continuation of the deposit of such amounts in the Compensation Fund will bring us closer all of the final completion of the task of the Board of Directors regarding the payment of full compensation approved by the Council of the State of Kuwait ».

The remaining funds

He pointed to the need to be reminded that «ensure the payment of the remaining amounts owed to Kuwait is the responsibility of the Board of Directors in accordance with its primary functions and this should not be on the United Nations Commission for compensation of its efforts to shrink until it is repaid in full the amounts».

It also pointed to the Governing Council decision No. 252 on claims (competing Dual), which calls to recover the overpayment from the final payments to Kuwait, adding that «the Kuwaiti government approved plans to pay the full amount is recovered in the near future rather than deducted from the final payments».

He said he «Based on the recommendations of the Board of Directors and in close cooperation with the members of the Council, the Government of the State of Kuwait wishes to reiterate its commitment to environmental claims about the program and to continue its efforts to achieve its goals to meet the aspirations of the Council and the rehabilitation of the environment».


http://www.ahewar.org/news/s.news.asp?nid=1815709

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Re: ***** The United Nations Compensation Commission (UNCC)..... what is owed and the next meeting of the UNCC

Post  Admin on Fri Oct 03, 2014 8:16 am

Don't get to excited yet this piece came out before the meeting


The UNCC meeting is going on right now,  Oct 2-3 2014.... look at the date of the press release !






PR/2014/6
1 October
2014
PRESS RELEASE
OPENING OF THE SEVENTY
-
EIGHTH SESSION OF THE UNCC GOVERNING COUNCIL


Based on recent projections, the balance of

$5.7 billion is expected to be paid in full in late 2015


http://www.uncc.ch/sites/default/files/attachments/documents/78%20open.pdf

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Re: ***** The United Nations Compensation Commission (UNCC)..... what is owed and the next meeting of the UNCC

Post  Admin on Sat Oct 04, 2014 8:31 am

GOVERNING COUNCIL OF UNITED NATIONS COMPENSATION COMMISSION CONCLUDES ITS SEVENTY-EIGHTH SESSION
GOVERNING COUNCIL OF UNITED NATIONS COMPENSATION COMMISSION CONCLUDES ITS SEVENTY-EIGHTH SESSION
3 October 2014

The Governing Council of the United Nations Compensation Commission today concluded its seventy-eighth session under the Presidency of Australia.

Delegations from Iraq, including the Head and members of Iraq’s Committee of Financial Experts which is responsible for the oversight of Iraq's oil revenues, and Kuwait addressed the fifteen-member Governing Council at its opening plenary meeting.

The Governing Council acknowledged Iraq's ongoing commitment to meeting its obligations to deposit five per cent of Iraq’s oil revenues and the equivalent of five per cent of the value of non-monetary payments to the Compensation Fund under Security Council resolutions 1483 (2003) and 1956 (2010), particularly given the extremely difficult security circumstances in Iraq.

The Council considered reports on the activities of the Commission since the last session with respect to the current levels of income to the Compensation Fund, arrangements for ensuring continued payments, and other payment-related activities.

At present, $ 5.7 billion remains owing to Kuwait for distribution to one remaining successful claimant. With this claim anticipated to be paid in full by the end of 2015, the Governing Council also considered issues relating to the orderly wind down of the Commission.

The session just concluded was the last session for the delegations of Argentina, Australia (President), Luxembourg, Republic of Korea (Vice-President) and Rwanda, whose terms of office end on 31 December 2014.

The Council decided to hold its next regular session on 21-22 April 2015.

Further information about the Commission can be found on the United Nations Compensation Commission website located at www.uncc.ch.


For use of the information media; not an official record

UNCC14/006E


http://www.unog.ch/unog/website/news_media.nsf/%28httpNewsByYear_en%29/66A86B88876E1442C1257D66004D6679?OpenDocument

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