N.Y. Nav. Law § 183

§ 183. Settlements. The administrator shall attempt to promote and\narrange a settlement between the claimant and the person responsible for\nthe discharge. If the source of the discharge can be determined and\nliability is conceded, the claimant and the alleged discharger may agree\nto a settlement which shall be final and binding upon the parties and\nwhich will waive all recourse against the fund.\n