More legal drama for Adak Fisheries


Tuesday, July 13 2010
Unalaska, AK – Legal troubles continue to mount for Kjetil Solberg, the former owner of Adak Fisheries. New court filings obtained by Wesley Loy show that a trustee for the company is suing Solberg for $400,000 on the grounds that the money had been personally - and illegally -- transferred to Solberg after the company was already insolvent. Kenneth Battley, the trustee named in the suit, is also asking for court relief, saying that these transfers were illegal since they were made after the company was already insolvent.
Over $115,000 of this money went to Ricky Solberg for child support, credit card payments, and a property settlement. Kjetil Solberg also used over $26,000 of this money to make a mortgage payment on one of his properties.
Adak fisheries filed for bankruptcy in 2009. A year before this petition, the company had only $20,000 in cash on hand and had debts in the amount of $2 million.