‘Giving up was never an option’: The fisherman who fought back after losing millions in SL

Spanish Israeli entrepreneur Simon Max Astandoust, a fourth-generation member of the renowned Astan fishing family, has endured years of legal battles, business setbacks and the loss of millions of dollars after investing in Sri Lanka’s fishing industry. Yet, despite the challenges, he has chosen to stay and rebuild. In an interview with the Sunday Island, the founder and CEO of Seamax Ceylon (Pvt) Ltd speaks about his struggle, the restoration of his state-of-the-art factory vessel Astan II, and his plans to introduce cutting-edge seafood technology to Sri Lanka. Q: You began operations in Sri Lanka in 2018. What was your original vision and investment? A: We started operations in 2018 with an initial investment of around US$1 million. Over time, that investment grew into several million dollars because we believed Sri Lanka had enormous potential in the fishing industry. My original intention was to develop a project through the Board of Investment (BOI) and introduce new technology to the country. However, the Government at the time encouraged us to work directly with it instead. We believed that this partnership would help us move forward faster and create something unique for Sri Lanka. Overhauled Astan II Our goal was to operate within the harbour and establish a modern fishing operation centred around advanced technology and sustainable seafood processing. Q: What challenges did you face after starting operations? A: Around eight to 18 months after we began our investment, COVID-19 hit. The pandemic created enormous difficulties. In countries such as Spain and the United States, governments provided financial support to help businesses survive. Here, the Government itself was facing a difficult economic situation and was unable to provide similar assistance. Initially, we were told that there would be a grace period and that we would not be pressured for payments as long as we maintained our workforce and kept the operation alive. But later, that understanding changed, and demands for payments began despite the fact that we had a 15-year agreement. That was the beginning of the major conflict. Q: How did the change of Government affect your operations? A: When a new Government came into power, the 15-year agreement signed with the previous administration was not recognized. The factory was closed and legal action was initiated against us. This was extremely difficult because we had invested heavily based on a long-term agreement. We had built infrastructure, brought in technology and created employment opportunities. During this period, while the vessel was caught up in legal disputes, a group of people attempted to take control of the ship. One of the most painful experiences was that some lawyers who had been working for us changed sides and supported those attempting to take the vessel. Simon Max Astandoust The legal battle continued for years and only concluded in 2025. Q: Your vessel, Astan II, is central to your investment. What happened to it during this period? A: Astan II is not just a fishing vessel. It is a huge factory vessel with a complete processing facility inside. It was designed to bring a completely new level of technology to Sri Lanka’s fishing industry. Unfortunately, because it remained idle during the legal proceedings, it suffered significant damage. Ships cannot simply sit in a harbour for months or years without proper operation and maintenance. The Sri Lankan weather conditions are particularly harsh on vessels. The vessel deteriorated badly, but after we regained control, we decided to completely restore it. It was overhauled. Q: How much did the restoration cost and what work was involved? A: The restoration cost approximately US$1.5 million and took about one year, beginning in 2025. The vessel was almost a complete rebuild. One of the biggest technical challenges was repairing the three generators. Because the harbour did not provide electricity, these generators had been running continuously to maintain the vessel. Over time, this caused significant wear and tear. Finding replacement parts was another major challenge. Many of these parts are not imported into Sri Lanka, so every component had to be sourced from different countries and brought in individually. A team of around 14 to 20 people worked on the restoration, including a Sri Lankan chief engineer and local professional deck crew. Their expertise and dedication were extremely important. Today, the vessel is in brand-new condition. Q: You mentioned that the absence of diplomatic representation made your struggle more difficult. Why? A: I hold Spanish and Israeli citizenship, and neither Spain nor Israel has an embassy in Sri Lanka. Normally, when a foreign investor faces serious difficulties, an ambassador can engage with authorities and help protect the investor’s interests. In my case, I had to face everything alone. I had to deal directly with government institutions and the legal system through my lawyers. Having diplomatic support would have made a significant difference. But ultimately, I had to rely on the courts and the legal process. Fortunately, the maritime judges understood the complexity of the situation and the importance of maritime law. Their fair approach restored some of my confidence. Q: Your vessel uses unique -70°C “Ultra-Fresh” technology. Can you explain how it works? A: This is one of the most exciting parts of our project. The technology comes from Japan and is only about two years old. Traditional freezing methods often affect the quality of fish because the freezing process is slower and damages the texture. This technology works differently. It uses a glazing process where the fish is frozen from the outside, creating a protective layer. Within approximately two hours, the fish is completely frozen. This process eliminates bacteria and preserves the quality of the fish. When the fish is later defrosted using the correct method, it is almost exactly like fresh-caught fish from the ocean. The taste, texture and quality are preserved. At present, nobody else in Sri Lanka is carrying out this type of ultra-fresh freezing technology onboard a fishing vessel. Q: What advantage will this technology give Sri Lanka? A: Sri Lanka has excellent fishing resources, but we need to move beyond simply catching fish. The future is about value addition, quality control and accessing premium international markets. With this technology, Sri Lanka can export seafood at a much higher value because customers will receive a product that maintains the quality of freshly caught fish. This is not just about one company. It is about introducing a new concept to the country’s fishing industry. Q: After everything you have experienced, why did you decide to continue investing in Sri Lanka? A: I come from a family of fishermen. This is my fourth generation, and my son represents the fifth generation. Fishermen are not people who give up easily. The sea teaches you resilience. You face storms, difficulties and uncertainty, but you continue. Of course, there were moments when I lost faith. Losing millions of dollars and spending years in court is not easy for anyone. But eventually, the justice system gave me confidence again. The maritime judges understood the situation and treated the case fairly. That showed me that there are people in Sri Lanka who understand the importance of protecting investment and respecting the law. That is why I decided to continue. Many people told me that, despite the difficulties, the Sri Lankan judiciary would ultimately deliver justice. At the time, after years of uncertainty, it was difficult to know what the outcome would be. But in the end, that is exactly what happened. The courts examined the facts and delivered a fair judgment. The maritime judges understood the complexity of the situation and the importance of maritime law. Their fair approach restored my confidence—not only in the legal system but also in Sri Lanka itself. Q: What are your future plans for Seamax Ceylon? A: Our plan is to expand significantly. We intend to bring two or three more large factory vessels to Sri Lanka, along with five local fishing vessels. We also plan to establish a new processing factory near the beach. However, this time we will work through the Board of Investment rather than entering into a direct agreement with the Government. The BOI provides a structured framework for investors, and we believe this is the right way forward. My son Sam, who is the CEO of our US-based company, will also return to Sri Lanka to help introduce successful business concepts and support the next stage of development. Q: What keeps you motivated after such a difficult journey? A:The answer is simple: we do not give up. I come from a family of fishermen. This is my fourth generation, and my son represents the fifth generation. Fishermen understand struggle. You cannot control the ocean, but you learn how to survive. You face storms, difficulties and uncertainty, but you continue moving forward. I have lost money, faced difficult times and experienced moments of disappointment. But I never stopped believing in the potential of Sri Lanka. One thing that gave me strength was the faith many people placed in the country’s judiciary. I was repeatedly told that the courts in Sri Lanka would deliver justice, and ultimately that belief was proven right. The maritime judges understood the situation and gave a fair decision based on the law. That experience reminded me that, despite challenges, Sri Lanka has institutions and people who respect justice. That is why I decided not only to stay but also to invest again. For me, this is not merely a business project. It is about resilience, trust and proving that when you believe in something, you continue fighting until you succeed. by Saman Indrajith