30 Jun 2011

Taiwan fishing firm ends deal with Cooks company

1:35 pm on 30 June 2011

A Taiwanese fishing firm is ending a 12-year agreement with the Northern Cook Islands Fishing Company and wants more than a quarter of million US dollars refunded.

The Cook Islands News reports that in 2009 the Ministry of Marine Resources issued licences to the NCIFC, which the local company onsold to Taiwanese fishing vessels.

It got money from the Taiwanese company for multi-year contracts for 16 vessels but seven of these trawlers were never licensed.

The Taiwanese company is seeking repayment of all monies paid for the seven vessels that remain unlicensed plus other expenses.