New York private equity firm Silicon Metals -- shareholder of old Pescanova -- filed a fraud lawsuit Tuesday against audit firm BDO International in Spain, accusing it of helping Pescanova conceal a more than $3 billion (€2.7 billion) in debt, reported Reuters.
The lawsuit said BDO auditors gave "clean" audit opinions to Pescanova's financial statements, even though the statements painted a "horribly incorrect picture" of the company's condition.
Meanwhile, Ignacio Gonzalez, CEO of Nueva Pescanova, is visiting the company’s subsidiaries in South America to evaluate the situation of the group's business outside Spain, reported La Voz de Galicia.
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