Topcat marine security inc. Owner peter Casini  has a history of bankrupcy in new jersey – USA

On Friday 24 November, the Transitional Federal Government of Somalia (TFG) has signed a two-year contract worth of US$ 55 million with Topcat Marine Security Inc. a company registered in Egg Harbor, New Jersey (NJ) USA.  Topcat’s current address is unknown.    Court documents states that   “Mr. Casini has a foreclosure judgment against his residence and is behind in child support and taxes”.  See page 2 of the Court report: http://www.njb.uscourts.gov/chambers2/lyons/04rl003p_97-39420_Casini.pdf#search='peter%20casini 

The deal is that Topcat will advance the aforesaid money in exchange for access to fishing and marine resources of Somalia to pay back its’ creditors.

However, the misleading story given to the world media is that the company will assist the TFG to end the piracy.   Prior to March 2005 there were no ORGANIZED CRIME OF PIRACY IN SOMALIA.   One needs to ask why is there a rise of piracy after Mr. Yusuf was elected as president of TFG? There also questions regarding this upsurge of piracy in Somalia and the way in which the white speedboats used in the piracy were obtained.

This deal is between two insolvent parties: Mr. Peter J. Casini, the manager of the private firm, Topcat and Mr. Hassan Abshir, an appointed Minister of Fishery of a non functioning transitional government. 

Both parties will be liable of “misrepresentation ”.  Mr. Casini’s company is liable of false statement about the company by not disclosing its 4 previous bankruptcy cases filed in Courts in the state of New Jersey (misrepresentation of facts).   While Mr. Abshir is liable to “fraudulent misrepresentation” as he has no authority to sign or enter into a contract with any entities without a legitimate and “unified government”.  The TFG of Somalia is split into two groups based in Jowhar and in Mogadiscio.  Mr. Abshir is a close relative of the Somali president; Mr. Yusuf based in Jowhar.  Mr. Abshir’s shady deal on behalf of the Somali people is a classical case of nepotism, one of the root causes of the Somali conflict.

BACKGROUND OF MR. PETER CASINI

Mr. Peter Casini is born from an Italian- American family and in 1991 he started to build and design boats under the trademark of “Cobra” in Grand Egg Harbor River in NJ.

Mr. Casini has had a long history of insolvency (bankruptcy) and several legal suits against his company were filed in Texas, South Carolina and New Jersey. 

According to Court documented, Mr. Peter Casini has filed 4 bankruptcy cases for his “speedboat” companies since 1992, namely:

Marine Investors Inc incorporated in NJ in 1995.  The company filed bankruptcy in 1999.

Cobra Sport Fishing Boats Inc., Egg Harbor, NJ, has filed Chapter 7 in the U.S. Bankruptcy Court in New Jersey. The case number is 01-14277- NJ. 

Cobra World Champion Powerboat Corp. incorporated in NJ in February 2000 along with other 2 of Casini’s companies.  The case number is 01-16889-NJ.

Tsunami Marine Manufacturing Corporation formed in February 2000 and also filed bankruptcy on July 2001.  The bankruptcy case number is 01-16890-NJ.

LEGAL SUITS AGAINST MR. CASINI

Graustein vs. Casini’s Marine Investors Inc. The case against Casini’s involved breach of contract, alleged breach of warranty and negligence.  On July 200 the Texas State Court awarded Graustein a judgment by default for damages of $175,000 and attorney’s fees of $75,000 for a total of $250,000.  Mr. Graustein subsequently filed another complaint in US Bankruptcy Court in NJ and the case was discharged since Casini company went bankruptcy.   Ref. http://www.njb.uscourts.gov/chambers2/lyons/04rl003p_97-39420_Casini.pdf#search='peter%20casini'

Small claims court in Moncks Corner, South Carolina a service contractor named Onyx filed against TOPCAT complaints for nonpayment of services, including providing electricity.  Judge David Brown entered a default judgment of $5,960.45 against Top Cat.

Readers you can ask yourself: why would Messrs. Yusuf and Abshir sign a fraudulent contract on behalf of a whole nation with an insolvent company that has no asset, no permanent address and a long history of bankruptcy?  With a small fee any reasonable person can acquire credit report on any legally registered company in the world.   It is a pity that Somalia is run by incompetent people. Today’s Sunday Nation wrote doubting article about this company.  http://static.flickr.com/26/67253159_9c9b4cb218_o.jpg

Contract of such a large amount should be awarded through an open and competitive international tender, and not be awarded behind close doors, without any transparency on how and why a certain company is selected.

Donna Somala 

Donnasomala@yahoo.com

The opinions contained in this article are solely those of the writer, and in no way, form or shape represent the editorial opinions of Buluugleey.com