Tag Archives: Kristian Kristensen

Cape Ann Seafood Exchange plans to reopen Tuesday

The Cape Ann Seafood Exchange expects to resume landing fish Tuesday, almost two weeks after the U.S. Labor Department effectively shuttered the business by seizing its bank accounts because of unpaid court-ordered damages. Kristian Kristensen, the owner of the fish auction on 27 Harbor Loop, said Thursday night that he had received final paper work from Labor Department officials that unfroze his business and personal bank accounts. “Now we can start putting things back in order, pay some people and hopefully start landing fish again on Tuesday, the day after the holiday,” Kristensen said. “That’s the plan.” >click to read<15:54

Gloucester: Fed seizure of accounts closes fish auction

Last Friday night, without any notice, the U.S. Labor Department seized the bank accounts of the Cape Ann Seafood Exchange, leaving the fish auction and seafood processor unable to pay fishermen for landed fish and imperiling even further its ability to profitably operate on the Gloucester waterfront. CASE owner Kristian Kristensen first knew there was trouble afoot when he started receiving text messages from his bank that his business balance had dipped below $25. “I didn’t put the pieces together until Saturday,” Kristensen said Thursday. “That’s when I knew it was the Department of Labor.” What followed was a business nightmare, as Kristensen tried to contact fishermen and other vendors about his inability to access his bank accounts for payments. >click to read<19:41

Vessel owner countersues Cape Ann Seafood Exchange

And this is why they call it a counterclaim. Longtime Gloucester fisherman Giuseppe “Joe” DiMaio has responded to the federal lawsuit filed against him by Kristian Kristensen of the Cape Ann Seafood Exchange, refuting many of the details of Kristensen’s initial action and stating the rift between the two business associates originated with a dispute over fish prices. On Jan. 19, Kristensen sued DiMaio and the ownership corporations of his four fishing boats in U.S. District Court in Boston, alleging DiMaio has failed to pay the approximately $710,000 balance remaining on two personal and corporate loans from Kristensen and his related businesses. >click to read< 21:27

Gloucester fish company’s owe workers $203K in damages 

Kristian Kristensen and his two Harbor Loop companies — Cape Ann Seafood Exchange and Zeus Packing — must pay more than $200,000 in liquidated damages to 132 employees in a settlement over violations of overtime and record keeping. The U.S. Department of Labor said an investigation by its wage and hour division unearthed violations from October 2011 through September 2014. The probe determined Kristensen and the companies owed $203,998 in back wages and an equal amount in liquidated damages. Liquidated damages are monetary compensations for a loss or a person’s rights or property, awarded by a court judgment. click to read the story here 19:08