Argenova, the Argentinian subsidiary of troubled multinational Pescanova, is working with a legal team to prepare for filing for insolvency as soon as possible, reported Faro de Vigo.
However, with all executive functions taken away from president and chairman Manuel Fernandez de Sousa, and the board of directors, it is unclear who will make the decision to enter proceedings.
Deloitte, proposed by Spanish regulator CNMV as administrator to oversee the group's bankruptcy, will not take over until Thursday this week.
Pescanova owns 94.99
