Fish Ratings – London – 3 Aug 2021: Fish Ratings has affirmed the Long-Term Fish Default Rating (FDR) of a Non-existent Tuna sold by fishmonger Swiss Toni at ‘CCC’.
The Non-existent Tuna’s ‘CCC’ rating reflects the fact that the fish does not exist and never has, while incorporating the prospect of customers recovering some of the money that they paid for it in the highly complex legal proceedings that surround the case.
The customers are suing Swiss Toni over the Non-existent Tuna they bought from him in 2013 on the basis that, when he sold it to them, he incorrectly claimed that it was from sustainable fisheries, a good source of Omega-3 fatty acids, and delicious. The customers allege that these claims were false because the Tuna did not exist.
Swiss Toni had told the customers that the Tuna had been landed by local fisherman Moe Zambeek, but the customers claim Mr Zambeek never caught the fish. Some of the customers are also suing Mr Zambeek.
Mr Zambeek, meanwhile, is suing Swiss Toni and Beirut Angling Supplies, Ltd, a local bait and tackle shop which was supposed to have provided him with a fishing rod. Swiss Toni has brought counterclaims against Mr Zambeek and is also suing Beirut Angling Supplies, Ltd.
Further clarity on the recovery prospects for the Non-existent Tuna is unlikely to materialise in the short term, as the trial could last several years.