A process to compensate losses incurred due to the MV Rena grounding will start this week with the advertising of a General Limitation Decree in London.
The decree establishes a $27m (13,722,018.94UK) Limitation Fund to satisfy claims for loss, damage, delay causing loss, or any infringement of rights resulting from the accident in October last year.
The Rena's owners and insurers intend to establish a similar fund in New Zealand in the near future.
The first advertisement promoting the London fund was published in Lloyd's List and it will also be advertised in New Zealand, Australia, Indonesia and England.
The final date for lodging a claim against the London fund is December 21.
John Owen, senior claims manager for insurer The Swedish Club, said he and the owners were pleased to put in place procedures for the range of affected parties to seek compensation for legitimate claims.
Captain Owen said: "We have always been committed to putting things right, including meeting all legal obligations under New Zealand and international law."