Nueva Pescanova central headquarters. (Photo: Pescanova)
Nueva Pescanova has sued the owners of the 'old' Pescanova for alleged illegality in the signing of contracts before losing control of the company.
The lawsuit was filed in a district court of Vigo, after several months of "fruitless and repeated efforts" to try to resolve the dispute out of court.
The old Pescanova owns 20 per cent of the share capital of Nueva Pescanova SL., after losing majority control of the company by the end of 2015. The contracts being questioned were now signed shortly before, on 27 October last year.
From Nueva Pescanova they argue that these contracts "unilaterally determined" by the board of Pescanova have a "clearly abusive" content. In this sense, they explain that they impose new obligations and penalties of up to EUR 2 million to Nu...