Samuel Shinedima
FIRST National Bank Namibia (FNB) will continue its court battle in which it will fight for the bank’s interest in assets that were bought by men implicated in the Fishrot corruption scandal.
The State currently wants to forfeit some of the assets bought through the bank.
The South African financial subsidiary bank is now listed as the sixth respondent in the matter between Ricardo Gustavo and the Prosecutor-General (PG).
This is after High Court Judge Orben Sibeya dismissed the application by the commercial bank to protect its interest in the restraint order over a wide range of assets linked to the Fishrot case.
On 13 November 2020, the PG was granted a restraint order to forfeit all property held by the Fishrot accused and their co-accused at any time before or after the granting of the order.
FNB funded the assets worth N$5,3 million to some of the Fishrot accused.
Amongst these are three houses, of which one worth N$2,7 million belongs to Ricardo Gustavo, while two houses, one worth N$987 000 and another N$613 000, belong to James Hatuikulipi.
In a brief court appearance on Thursday morning, FNB was instructed to indicate if they intend to file an affidavit in the matter.
However, the financial institution indicated to the court that intends to appeal the court decision of 25 March.
The bank is of the option that its interest in specific assets must be protected to recover and settle the debts owed to the bank.
Some of the defendants listed in the matter as well include former minister of fisheries Bernhard Esau’s wife Swamma Esau, and Johanna Ndapandula Hatuikulipi, the wife of Tamson Hatuikulipi and other business entities owned by the Fishrot accused.
