date:Mar 21, 2014
) in capital, with lenders having to accept average losses of 60 percent to 90 percent on their debt.
The operator of fish farms and processing plants from Spain to Chile, as well as more than 90 ships, must win agreement from more than 50 percent of creditors to carry out the restructuring plan. Auditors found Pescanova had more than double the amount of debt previously reported after it filed for creditor protection in April, prompting a fraud investigation.
Should the new proposal be approv