Nueva Pescanova central headquarters. (Photo: Pescanova)
Nueva Pescanova sues 'old' Pescanova
(SPAIN, 5/18/2016)
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 Nueva Pescanova if they do not fulfill these self-imposed unilaterally granted duties, Europa Press reported.
According to company sources, these are actions "unilaterally performed that are non-transparent" posing "clear violation of the loyalty duty" to the other partners of Nueva Pescanova SL and "exclusively benefitting Pescanova SA."
Nueva Pescanova alleged to have opted for the courts given the "persistence of verbal threats" from members of the current Board of Directors of Pescanova SA, who were trying to intimidate them by filing claims and actions of social responsibility.
Related article:
- Pescanova rectifies results due to 'super-loan' negative impact
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Information of the company:
Address:
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Calle José Fernández López, s/n
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City:
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Chapela - Redondela
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State/ZIP:
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Pontevedra, Galicia (36320)
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Country:
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Spain
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Phone:
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+34 986 818 100
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Fax:
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+34 986 818 220
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E-Mail:
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info@pescanova.es
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