Fish Ratings – London – 02 Oct 2023: Fish Ratings has withdrawn its ‘CCC’ rating of a batch of Non-existent Tuna sold by the former fishmonger Swiss Toni as all of the outstanding liabilities and claims relating to it have been settled, notwithstanding the fact that the rated fish does not exist and never did.
The giant seafood conglomerate Union Pescatorium of Switzerland (UPS, rated ‘A+’ with a Stable Outlook), which took over Swiss Toni’s ramshackle fish stall earlier this year, has settled the law suits brought against the erstwhile trader by fishing boat operator Moe Zambeek and several unhappy customers.
Although the Tuna does not exist and never did, its previous ‘CCC’ rating incorporated the prospect of customers recovering some of their money though litigation.
Given that the financial terms of the settlement have not been disclosed, Fish Ratings changed the rating from ‘CCC’ to ‘?’ with a Mysterious Outlook immediately prior to withdrawing the ratings.
The suit brought by the customers was based on the allegation that when Swiss Toni sold them the Non-existent Tuna in 2013, he incorrectly claimed that it was (a) from sustainable fisheries, (b) a good source of Omega-3 fatty acids, and (c) delicious.
The customers argued that these claims were fraudulent because the Tuna did not exist.
Swiss Toni had also told the customers that the Tuna had been reeled in Moe Zambeek, but Mr Zambeek had not in fact caught any fish. Some of the customers also sued Mr Zambeek. Mr Zambeek, for his part, sued Swiss Toni and Beirut Angling Supplies, Ltd, a small bait and tackle shop which was supposed to have provided Mr Zambeek with a fishing rod. Before its takeover by UPS, Swiss Toni had brought counterclaims against Mr Zambeek and was also suing Beirut Angling Supplies, Ltd.
Mr Zambeek was quoted by the Seafood Times on Tuesday as saying he intended to pursue the case against Beirut Angling Supplies, Ltd.
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