Deadline to adhere to agreement by Pescanova’s creditors extended
Pescanova products. (Photo: Pescanova)
Commercial Court number 1 of Pontevedra has decided to extend the deadline for creditors to adhere to the agreement of Pescanova until 29 April. This extension will allow the parties to continue negotiations to find a compromise to the viability of the Spanish multinational firm.
The ruling by Judge Roberto de la Cruz states that "the deadline granted may hinder the willingness and the correct voting by all creditors," the agency Europa Press reported.
Therefore, this period, which expired today, was extended for two additional weeks.
However, the judge warned that extension was set "to provide creditors with the chance to decide and vote on the only proceeding admissible agreement proposal."
And he explained that the fact that only a proposal was admissible f...
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