date:May 13, 2014
canovas massive debts, required 51 percent of its creditors approval to be accepted by regulators otherwise Pescanova would be forced to declare insolvency. According to the regulators report, the company secured 63.65 percent of its creditors support.
Pescanova has been embroiled in troubles for more than a year after declining to present to Spanish regulators its annual accounts. Subsequent investigations revealed discrepancies between the company's accounting and its debts, which led to the