Push to liquidate Samherji-linked fishing company

Axed fishermen employed on ArcticNam Fishing’s Heinaste marine vessel are now gunning for the liquidation of the company after it failed to honour a N$1.82 million settlement by the Walvis Bay Labour Court.The fishermen lost their jobs in 2019 when the company replaced them with temporary workers who were employed for about 10 months. The Heinaste, which the company owned, was subsequently also sold to Tunacor by the Prosecutor-General after it was impounded.ArcticNam Fishing is a joint venture between Icelandic partners Samherji and three Namibian companies, Sinco Fishing, Yukor Fishing and Epango Fishing.Samherji, one of the largest fishing companies in the world, is at the centre of the Fishrot storm, amid allegations it paid millions of dollars - through tax heavens such as Cyprus and the Marshall Islands - to bribe high level officials in Namibia in exchange for trawling rights.In an affidavit, former fisherman Ipinge Imanuel said efforts were made to trace ArcticNam’s physical address and assets, an exercise that yielded no results for almost a year. This then led to the application to have the company liquidated.Motivating the liquidation, Imanuel said the company did not have any assets that could be sold to honour its obligations.Only on paper“[ArcticNam] does not own any immovable property and no fishing vessel is registered against its name. For all practical purposes, [it] only exists on paper,” he said.“As a result, the [labour court] judgment alone is more than any of the assets the first respondent conceivably may own,” Imanuel added.“We have been informed by [lawyer Norman] Tjombe that after approximately close to a year of delinquently searching for the first respondent’s physical address or assets, nothing came up,” the affidavit read.The appointment of a liquidator would also help determine whether other creditors had claims against ArcticNam, which – according to Imanuel - will be beneficial to all who have a monetary claim against the company.“The liquidation of the first respondent will also ensure that a [to-be-appointed liquidator] will then also have the power to conduct an inquiry into the affairs of the first respondent, which might result in the locating and seizure of any money or other assets... that may come to light,” he said.

Push to liquidate Samherji-linked fishing company

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Namibian Sun 2025-06-18

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Push to liquidate Samherji-linked fishing company

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Namibian Sun 2025-06-18

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