September 12, 2012
Ngati Tama debt woes continue
The liquidator of a fishing company linked to Taranaki iwi Ngati Tama is asking the Fiji High Court for a warrant to arrest a Korean vessel used by the venture.
Peter Coleman says Tuere Fishing owes $4.6 million to Ikatuna, the holding company used by Ngati Tama, but it is likely to get less than half back.
Earlier this year former Ngati Tama claim negotiator and chief executive Greg White told iwi members all of the iwi’s 2003 settlement and more had been wiped out in bad investments.
Mr Coleman, who was called in after crew members of the Shin Ji claimed more than $1 million in unpaid wages from Tuere, says Mr White was not at fault, but fellow director Hyun Choi had failed to act in good faith.
He says the ship needs to be arrested to stem further loss to Tuere Fishing, and he will seek further prosecution against Mr Choi.