the fund which is constituted in court by the party seeking to limit its liability under the Limitation Conventions 1957 (art. 2) or 1976 (art. 11). Once constituted, the limitation fund is available only to pay claims subject to limitation, so that other claims must be asserted separately, and claimants against the fund are barred from proceeding against other assets of the defendant. The fund is constituted by the deposit with the court of the sum or approved security, as determined under the relevant Convention, for the benefit of all claimants. The constitution of the fund results in a stay of proceedings in any actions already begun in respect of the casualty concerned, and in the filing of all claims relating to the casualty in the limitation proceedings, in accordance with the principle of "concursus". At the conclusion of the limitation proceedings, the fund is distributed in proportion to the "established claims"