date:Apr 10, 2013
nova may have used front companies todeclare only minority interests in overseas firms in order toavoid having to consolidate the debt they are carrying on thegroup's balance sheets. They also suspect the company has failedto declare operations involving letters of credit.
Company sources insisted Pescanova has supplied all necessaryinformation to its auditors and that it is not trying to hidedebt. But the company has dismissed its current auditor BDO andis preparing to file a suit against it.