Overseas companies hold a third of Pescanova's debt

The juggernaut of Pescanova news has been rolling for weeks now, the freshest one that five companies -- American Shipping, Medosan, Epripel, ASF and El Porvenir -- can explain a chunk of Pescanova's massive debts.

These companies should have been reflected in Pescanova's balance sheets, said a report from auditor BDO, even though Pescanova owed less than 20 percent,El Pais reported.

American Shipping is based in Uruguay in which Pescanova claimed to have 49 percent in 2005. Now it only claims 19 percent, El Pais said.

Medosan