The amount of the limitation fund for maritime claims liability is the limitation of maritime claims liability and the interest from the date of the accident to the date of the establishment of the fund. Where a fund is established by way of guarantee, the amount of guarantee is the amount of the fund and its interest during the establishment of the fund.
After receiving the written objection raised by the interested party, the maritime court shall conduct an examination and make a ruling within 15 days. If the objection is established, the ruling shall reject the applicant's application; If the objection is not established, the ruling allows the applicant to set up a limitation fund for maritime claims liability. Establish a limitation fund for maritime claims liability, provide cash and provide guarantees recognized by the maritime court.
Article 101 of People's Republic of China (PRC) Maritime Law, if the shipowner, charterer, operator, salvor and insurer apply for limitation of liability according to law after a maritime accident, they may apply to the maritime court for the establishment of a limitation fund for maritime claims liability.
Where a ship causes oil pollution damage, the shipowner, liability insurer or other person providing financial guarantee shall set up a limitation fund for maritime claims for oil pollution damage to the maritime court in order to obtain the right of limitation of liability stipulated by law.
An application for the establishment of a liability limitation fund may be filed before prosecution or litigation, but it shall be filed before the judgment of first instance is made at the latest.
Article 106 If an interested party has any objection to the applicant's application for establishing a limitation fund for maritime claims liability, it shall, within seven days from the date of receipt of the notice, or if it has not received the notice, it shall submit it to the maritime court in writing within thirty days from the date of announcement.
After receiving the written objection raised by the interested party, the maritime court shall conduct an examination and make a ruling within 15 days. If the objection is established, the ruling shall reject the applicant's application; If the objection is not established, the ruling allows the applicant to set up a limitation fund for maritime claims liability.
If a party refuses to accept the award, he may appeal within seven days from the date of receiving the award. The people's court of second instance shall make a ruling within 15 days from the date of receiving the appeal.