Tag: Pescanova

• Sunday, May 26th 2019 - 21:12 UTC

  Judgment to the former administrators of Pescanova considered responsible for fraudulent bankruptcy

  

  The Fourth Section of the Criminal Chamber of the National Court will judge the old Pescanova former administrators for making up the accounts of the company as of December 2, with the prospect that more than 40 sessions will be held and the procedure will be seen for sentencing in March 2020, as specified in the oral trial notice to which Europa Press has had access.

• Saturday, September 20th 2014 - 07:40 UTC

  Pescanova divesting in the Falklands, according to the Spanish media

  

  The Spanish seafood group Pescanova is reportedly close to selling Falkland Islands Lafonia Seafood, which has operations valued between €15 and €20 million, reported the Spanish newspaper Cinco Días.

• Tuesday, September 2nd 2014 - 07:36 UTC

  Pescanova seems to be turning around following a severe financial purge

  

  The approval of the creditors’ agreement considering reductions over 90% of the debt helped the Galician multinational firm Pescanova achieve a net profit of EUR 1,790 million in the first half of this year. The six-month accounts submitted to the Spanish National Securities Market Commission (CNMV) show the cancellation of the firm’s bulky insolvency has meant the entry of EUR 2,3 million, which in the accounts figure as income.

• Saturday, May 24th 2014 - 00:11 UTC

  Pescanova Falklands operation could be targeted by Argentina, says Spanish media

  

  Argentina’s government could at any stage now force Spanish seafood group Pescanova to divest its squid fishing operation based in the Falkland Islands, as it is reportedly breaching fishing legislation, said Spanish media.

• Friday, February 28th 2014 - 03:14 UTC

  Pescanova's survival to be decided in a month; Friday first deadline

  

  One of Spain's leading fishing companies Pescanova (under administration) faces a decisive deadline for its future, while banks finalize the negotiation of a creditors’ agreement based on debt cuts and investment in the firm, according to Europa Press based on sources familiar with the situation of the company.

• Monday, January 13th 2014 - 11:29 UTC

  Canadian group Cooke Aquaculture has set its eyes on (Pescanova) Pesca Chile

  

  The process of selling Pesca Chile continues, despite Pescanova's attempts to slow down the liquidation of the company and its Chilean subsidiaries until the situation of the Galician multinational in Spain is resolved.

• Monday, January 13th 2014 - 07:15 UTC

  Three investment funds interested in recapitalization of bankrupt Pescanova

  

  The bankrupt Galician multinational Pescanova has three proposals for its recapitalization: one from Damm, Luxempart, KKR and Ergon Capital Partners; another from Centerbridge and Bluecrest investment funds, and a third one from the major domestic creditor banks, according to reports from Vigo.

• Thursday, November 7th 2013 - 22:53 UTC

  Pescanova needs 185 million Euros to get back to business, say auditors

  

  The Galician multinational firm Pescanova needs an estimated 185 million Euros in working capital to be run in a year, according to estimates made by the consulting firm PricewaterhouseCoopers (PwC).

• Thursday, October 24th 2013 - 21:13 UTC

  Pescanova 'faked' annual turnover in 2011 and 2012 by 80%, says KPMG audit

  

  The auditing firm KPMG found out that the Galician multinational firm Pescanova ‘blew up’ up to 1,264% the price of seafood products sold to the 14 instrumental (straw) companies with which it operated through fake invoices.

• Monday, October 21st 2013 - 05:43 UTC

  Lazard renegotiates Pescanova’s 2bn Euro debt: pretends 75% relief

  

  The new chairperson of the Galician multinational firm Pescanova, Juan Manuel Urgoiti, authorized the investment bank Lazard to implement an urgent debt refinancing process with the creditor entities.