The province of Pontevedra has been in the limelight of the global fishing industry since March this year, when Spanish multinational fishing giant Pescanova filed for insolvency with market regulator CNMV.
As reams of print space got devoted to the company’s antics, story after story was dug out about fiddling with financial accounts, gargantuan debts and corrupt dealings among the top brass.
The unsaid opinion among industry insiders is that Pescanova was forced to acknowledge its debt problems directly because the public coffers had dried up on account of the ongoing credit crunch that has crippled southern Europe particularly.
Pescanova
