Icelandic Fishing Company Accused in Fishrot Scandal Hit With USD 1.1 Billion British Lawsuit
By TUW
As court proceedings linked to Namibia’s “Fishrot” corruption scandal draw closer, Icelandic fishing giant Samherji is facing a major legal challenge abroad, with a lawsuit seeking more than USD 1 billion in damages.
According to Icelandic broadcaster RÚV, a UK-based firm, Restitution Litigation Limited, has filed a case in British courts against Samherji and members of its management. The company was reportedly set up specifically to pursue the claim, which is based on rights said to have been acquired from a Namibian state-owned entity. The lawsuit is valued at ISK 140 billion, equal to about USD 1.11 billion or EUR 945 million.
Samherji chief executive Baldvin Thorsteinsson confirmed the legal action, explaining that the UK firm had purchased the claim from a Namibian government-owned company and is now seeking compensation through the UK legal system.
The case is the latest development in the Fishrot scandal, which came to light in November 2019 after WikiLeaks released tens of thousands of internal documents linked to Samherji’s operations in Namibia. The documents allegedly revealed a scheme involving bribes paid to senior Namibian officials and politicians in exchange for access to valuable fishing quotas.
The allegations led to high-profile arrests and court cases in Namibia. Former fisheries minister Bernhard Esau and former justice minister Sakeus Shanghala are among those charged, alongside several other suspects, accused of costing the country millions of dollars through corrupt dealings.
In 2021, former Samherji CEO Thorsteinn Már Baldvinsson issued a public apology, admitting there had been serious problems within the company’s Namibian operations. However, he maintained that Samherji’s leadership did not approve of or have knowledge of the illegal activities.
Independent reports later called on Samherji to pay compensation for its alleged involvement, including reparations to Namibian fishermen who lost jobs as a result of the scandal. These reports also accused the company of failing to fully accept responsibility.
More recently, another investigation claimed there was closer communication between Baldvinsson and former Samherji Namibia operations director Jóhannes Stefánsson than previously acknowledged. Thousands of messages reportedly exchanged between the two have been cited as evidence that Samherji’s head office may have been more directly involved.
Samherji has denied wrongdoing and says it will strongly defend itself in court. Thorsteinsson stated that the company has not yet been given a full explanation of the legal basis for the claim but remains confident in its defense.
