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Manuel Fernández de Sousa. (Photo: FIS Stock)
Pescanova’s former president faces asset seizure
SPAIN
Thursday, November 13, 2014, 00:50 (GMT + 9)
The Galician multinational firm Pescanova’s former president, Manuel Fernández de Sousa, will have to submit to Audiencia Nacional (AN) a list of the possessions he owns under his name in the next ten days for them to be seized.
This requirement is set because the entrepreneur declared he was not able to afford the payment of the civil bail imposed by Judge Pablo Ruz for his alleged responsibility in Pescanova’s bankruptcy, the newspaper Faro de Vigo reported.
The judge called 10 former councilors and executives to give them the order for payment, but they all of them expressed the same as Fernández de Sousa.
The deposit amounts to EUR 158.5 million and being supportive, it is not determined how much each of the defendants must pay.
The former councilors Fernando Fernandez de Sousa – former president’s brother --, Alfonso Paz-Andrade and Robert Albert Williams will have to plead themselves insolvent and will have to submit a list of assets that can be seized.
The same treatment has been received by directors Antonio Taboas, Joaquin Viña Tamargo, Alfredo Lopez Uroz, Carlos Turci, Alfonso Garcia Calvo and Angel Gonzalez.
The civil bond also affects a company linked to the entrepreneur: ICS Holdings Limited, in South Africa.
As this is a civil bond, failure to pay it does not involve imprisonment for the entrepreneurs and managers involved.
Judge Ruz acknowledged that "while it is true that the total caused harm can vary" not only in the investigation stage, but in the later ones, given the complexity of the case, the imposition of a bond "can not be described as premature" as Fernandez De Sousa’s counsel said, the newspaper La Voz de Galicia informed.
Related articles:
- Pescanova accepts BDO resignation as auditor
- Creditors’ meeting declared for another subsidiary of Pescanova
By Analia Murias
[email protected]
www.seafood.media
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