Small shareholders of Pescanova study going to the CJEU and civil proceedings after the Supreme Court ruling

VIGO, 16 Feb. (EUROPA PRESS) -

The procedural representation of a group of small shareholders of the former Pescanova are considering going to the Court of Justice of the EU after the ruling of the Supreme Court that reduces the sentence for Manuel Fernández de Sousa from 8 to 6 years, and that exonerates the auditor BDO, after the bankruptcy of the fishery, almost 10 years ago.

The Supreme Court, in addition to reducing the sentence of the former president of the multinational (by acquitting him of the crimes of fraud, document falsification and applying an extenuation for undue delay, even confirming that he falsified the firm's accounts), maintains that Fernández de Sousa and Pescanova (a company now without industrial activity) must jointly and severally indemnify the injured investors in more than 125 million euros.

The high court also acquitted the external auditor of Pescanova, as well as the auditing company BDO and, in terms of civil liability, the latter's insurer, considering that the former had a careless or inattentive conduct, but not the malicious behavior that is required with respect to the crimes for which he was convicted.

The exoneration of the auditor supposes in practice that the possibilities of small investors to recover their money vanish. The lawyer Joaquín Yvancos, who represents some 200 of those affected (with some 7 million euros committed) has explained to Europa Press that, after the resolution, the only alternative that opens is to go to civil proceedings against the auditor, a procedure that will have costs, since it is necessary, among other things, to hire experts to prepare economic reports.

In any case, after expressing his discomfort at the reductions in sentences, Yvancos has indicated that they are considering going to the European justice system, considering that the Spanish judicial system has not respected the rights of those affected. Likewise, they will demand the immediate entry into prison of those convicted and that responsibilities be derived, so that compensation can be collected, from Nueva Pescanova.

Sources from the Prosecutor's Office consulted by Europa Press have specified that the Supreme Court ruling is not yet final, since a period must be waited for the presentation of nullity incidents. Once this procedure has been exhausted, the Public Ministry will follow the usual procedure: give a few days for the main convicted person (the rest do not reach a 2-year prison sentence) to voluntarily enter jail and, if not, the National Court will issue a search and arrest warrant.