Brief: Pescanova Informs Of Sentence Of Spain's High Court

Pescanova SA

07/10/2020 06:47

Oct 7 (Reuters) - Pescanova SA  PVA.MC :
    * SAID ON MONDAY, SPAIN'S HIGH COURT (AUDIENCIA NACIONAL)
DEEMED
PESCANOVA AS PARTICIPANT IN CRIMES OF FRAUD AND FALSIFICATION OF
ECONOMIC AND FINANCIAL STATEMENTS AND IMPOSED A FINE OF 2 YEARS
AT A RATE OF 30 EUROS PER DAY AS WELL AS THE PROPORTIONAL
PAYMENT OF LEGAL COSTS, INCLUDING THOSE OF PROSECUTORS
    * HIGH COURT CONDEMNED CERTAIN SHAREHOLDERS OF PESCANOVA TO
PAY
126.9 MILLION EUROS AS CIVIL LIABILITY INDEMNITY
    * HIGH COURT CONDEMNED CERTAIN BANKING ENTITIES TO PAY 38.9
MILLION EUROS AS CIVIL LIABILITY INDEMNITY
    * HIGH COURT SET DIRECT CIVIL LIABILITY TOTAL AMOUNT OF
167.7
MILLION EUROS
    * WITH RESPECT TO THE AMOUNTS DERIVED FROM CIVIL LIABILITY
AND
FINES, IT MUST BE CONSIDERED THAT THE LIABILITY OF PESCANOVA
REMAINS SUBJECT TO REMOVALS WITH A REDUCTION OF 97.5% IN THE
AMOUNTS DESCRIBED AND WERE ACCEPTED IN THE FRAMEWORK OF THE
BANKRUPTCY AGREEMENTS OF THE COMPANY AND ITS DIFFERENT
SUBSIDIARIES

    
    
 Source text for Eikon:  urn:newsml:reuters.com:*:nCNM90WXt4
    
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