A Pontevedra, Spain, commercial court has set the date of Feb. 21 to hear a lawsuit filed by Old Pescanova against Nueva Pescanova over the capital increase implemented by the latter, which reduced Old Pescanova’s stake in the company from 20 percent to 1.65 percent, reports Expansion.
According to allegations made by Old Pescanova owners, minority shareholders were not allowed to participate in a share capital increase in the new entity and were denied any rights issue.
“The increase pursues the sole and exclusive interest of benefiting the financial creditors that filed for the increase,” said minority shareholders in the claim.
