Pescanova's chairman, Manuel Fernández de Sousa. (Photo: StockFile)

Judge postpones statement from Pescanova’s chairman

SPAIN
Monday, June 24, 2013, 02:10 (GMT + 9)

A judge of the High Court decided to postpone the statements to be heard from Pescanova’s chairman, Manuel Fernández de Sousa, and from other shareholders until a resolution is made as to whether the new complaints filed are admitted to be processed and the required reports are received from the Economic and Financial Crime Unit, among others.

Legal sources pointed out to the agency EFE that a date has not yet been set for the Judge Pablo Ruz to hear the evidence from the executive as the one accused for alleged falsification of financial information, annual accounting fraud and the use of relevant information.

Fernández de Sousa was to declare on 1 July, as well as the partnerships Inverpesca, Sociedad Anónima de Desarrollo y Control, and Sociedad Gallega de Importación de Carbones, all of them as the ones accused for alleged use of relevant information.

So far, three complaints have been admitted in relation to Pescanova’s case, but other shareholders of the Galician multinational firm filed new complaints, about which the Central Investigating Court No. 5 of the National Court has not expressed a verdict yet.

Ruz had also planned to hear statements from shareholder and counselor Alfonso Paz Andrade as an accused one on 1 July and from the partnerships Nova Ardara Equities and Iber-Comercio e Industria. And on 2 the July statements are to be heard from shareholder José Antonio Pérez Nievas and the partnership Golden Limit, in their capacities as the ones accused.

As witnesses Damm’s counselor and chairman José Carceller, Fernando Herce and Francisco Javier Soriano have been summoned to give evidence.

Furthermore, the judge Ruz also requested a copy of the forensic report from KPMG and the minute books of the General Meeting of Shareholders and the Board of Directors of the years 2011, 2012 and 2013 from the reorganisation administration Deloitte.

BDO Auditors, meanwhile, will have to provide the reports issued in the years 2011, 2012 and 2013.

One of the complaints describes that Paz Andrade sold a total of 195,000 shares of Pescanova worth EUR 3.2 million on 31 January, shortly before the company started the creditors’ meeting phase.

And it highlights that Fernandez de Sousa sold a total of 1,986,000 shares for more than EUR 30 million to the market and “without reporting about it” to the National Securities Market Commission (CNMV) during December 2012 and January and February 2013, according to La Información.

Meanwhile, Paz-Andrade on Friday stated that the priority is to save the 11,000 jobs in the company, and called for "the whole world" to join and to provide "solutions and help to save Pescanova".

"It is not about saving anyone, or for anyone to save their heritage, or for anyone to evade their responsibilities, since there should be some," he said in remarks to reporters before attending a meeting in Vigo.

Related article:

- Green light for urgent loan to Pescanova
 

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

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