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