|
The Prosecutor is to start research due to alleged irregularities in Pescanova linked to a pact with Damm. (Photo: 1997/CC BY-SA 3.0)
Alleged irregularities in Pescanova investigated
SPAIN
Tuesday, April 14, 2015, 23:40 (GMT + 9)
The Attorney General's Office has decided to investigate a series of irregularities on the Galician multinational firm Pescanova, following a complaint filed by a minority shareholder.
The complaint came after news that the company had agreed with Damm and with the fund Luxempart from Luxembourg on compensation for a maximum of EUR 3 million to support the viability plan of creditor banks and ensure the continuity of the firm.
According to a report submitted by Pescanova to Comisión Nacional del Mercado de Valores (CNMV), the president of Damm, Demetrio Carceller, reached an agreement with creditor banks that made it possible to analyse the outputs to ensure the viability, reported Economia Digital.
The commitment was validated by the administrators of the fishing firm, who imposed three conditions to recover EUR 3 million provided by Damm and Luxempart:
- Final approval of the agreement;
- Processing costs should be credited conveniently;
- They would not be charged until the senior credit settled with banks on the same plan is available.
At present, the only pending condition is the third one.
Specifically, shareholder Lorenzo Ramet made a complaint at the public prosecutor’s office, stating the "alleged covert vote purchase from two reference shareholders performed by creditor banks".
He pointed out that Damm and Luxempart voted for the plan at the shareholders meeting and "minority shareholders were surprised when the creditors’ agreement went ahead because it opposed the shareholders’ interests".
Meanwhile, Ramet explained the prosecutor that on 8 January, 2014 the multinational firm announced that the new board would not charge for the critical situation but it did not happen that way.
Several stakeholders consulted by the newspaper Atlantico expressed hope that the Prosecutor will take action on the matter and that the agreement will be cancelled.
"If a company, banks or shareholders want to keep the fishing firm, they should do so by legal means, that is to say, by performing an exclusion public offer of shares as it is a listed company," they pointed out.
In addition, minority shareholders seek to recover the money they invested in Pescanova.
In a written statement sent to the General Council of the Judiciary (GCJ), minority shareholders said that the crime of concealment of assets may have occurred after the communication reporting on the creation of two new companies: Nueva Pescanova and Pescanova España.
Related article:
- Pescanova earned more than EUR 1,600 million in 2014
By Analia Murias
[email protected]
www.seafood.media
|
Print
