On December 1, an administrative order signed by Antonio Evaristo Gudín Rodríguez-Magariños, who serves as a lawyer for the Administration of Justice, directed the National Court to sustain the ongoing compensation payments linked to the Pescanova SA bankruptcy, the former Pescanova. The total sum in play approaches 240 million euros. This directive was sent to former chair Manuel Fernández de Sousa and to the company, which currently remains inactive and holds a 0.34 percent stake in Nueva Pescanova. Sousa, meanwhile, is serving time in Soto del Real prison and has appealed for the multinational to assume its portion of the financial obligations. Prosecutor Juan Pavía, who pressed hard during the trial, appears to share a similar stance in this matter.
The prosecutor’s correspondence suggests that a consensus has been reached on the conditions under which the Nueva Pescanova organization must fulfill its obligation to pay the disputed amount. This interpretation, obtained by Prensa Ibérica through Faro de Vigo, indicates there is more complexity beneath the surface. In a scenario previously examined by this publication, Pavía contends that the 240 million should not be immediately deported to other parties. Both the former Pescanova and Nueva Pescanova, which is predominantly owned by Abanca, emphasize that these are bankruptcy loans and should be subjected to the same discount framework that applied during the insolvency proceedings for Pescanova. The expectation is that the liability would be reduced by the same rate, aligning with the established precedent of the insolvency process, and ensuring a uniform treatment across creditors.
The Public Prosecutor’s Office maintains that the civil liability loans in this matter are non-contractual and carry a general privileged status. As a result, they should not bear the consequences of agreements among creditors unless there are special circumstances such as voluntary or compulsory participation. The office also notes that the ultimate decision rests with the Pontevedra court that initiated the bankruptcy case. The 240 million solidarity payment was funded by Nueva Pescanova, a company currently working on its third strategic plan. That plan will be closely watched for its potential impact on the continuity and stability of the business, its workforce, and the regions connected to the fishing and processing sectors affected by the case. The broader implications touch on how corporate restructurings interact with regional economies, creditor rights, and the legal frameworks governing cross-border insolvencies in the European context.