Shrimp farming centre of Acuinova in Finca del Dique. (Photo: Pescanova)

Acuinova goes into liquidation

The No.1 Commercial Court of Pontevedra ordered the company Acuinova SL to go into liquidation, after failing to agree with its creditors.

This subsidiary of the Galician multinational firm Pescanova is dedicated to shrimp farming and has three headquarters in Andalusia: Ayamonte, San Fernando and Sanlucar de Barrameda.

Acuinova had requested the voluntary declaration of creditors’ meeting in early July, following the path of Pesca Chile (Chile), Argenova (Argentina) and the fishing society in Brazil, Correo Gallego reported.

Pescanova is presently undergoing a creditors’ meeting and is facing a debt amounting to over EUR 3,600 million.

According to sources close to the Galician multinational firm, although Acuinova has three farms "that have already been stopped for a while," it is a single company, which now goes into liquidation.

According to the chairman of the firm’s council of the centre of Ayamonte, Antonio Marín, the employees that are active are kept only "in testimony" in their posts.

As a precaution, the employees will begin to manage everything that is related to unemployment benefits and will continue claiming the two wages and bonus payments that are pending, he added.

For his part, the Mayor of Ayamonte, Antonio Rodriguez Castillo, regretted the liquidation ordered by the judge, calling it "a real human drama for the 17 affected families," and the loss of an "outstanding facility."

Meanwhile, Pescanova’s chairman, Juan Manuel Urgoiti, has just returned from Chile, where he travelled to accelerate the liquidation process of Pesca Chile, which has been in bankruptcy since last March, the newspaper La Voz de Galicia informed.

According to the authors of the KPMG forensic report on Pescanova, the fishing firm entered an irregular funding process to supplement the traditional one that spiral was introduced into a spiral to pay bills with other bills, until the situation became unmanageable and exploded.

The report reveals the existence of simulations of contracts to obtain financing, false invoicing and instrumental partnerships. 

Related articles:
- Pescanova’s reorganisation would save EUR 10 million, according to PwC
- Creditors’ meeting declared for another subsidiary of Pescanova

By Analia Murias
[email protected]
www.seafood.media

Address:	Finca el Dique 21400
City:	Ayamonte
State/ZIP:	Huelva
Country:	Spain
Phone:	+34 959 621 204
Fax:	+34 959 621 208
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