スペインの30億ユーロあまりの債務(借金)で倒産した海産物冷凍食品会社のPescanovaの経営危機問題は、会社の社長独裁べったり取締役会の無能さ、国立市場証券委員会(CNMV)の監督能力の無さが曝け出される。社長が取締役会と監査委員会を管理 牛耳る。同族会社の悲劇
EDITORIAL
Fracaso regulatorio
El hundimiento de Pescanova avanza imparable ante la impotencia de su Consejo y de la CNMV
El País 18 ABR 2013 - 00:00 CET
EDITORIAL
regulatory failure
The sinking speed ahead Pescanova the impotence of the Council and the CNMV
The Country 18 ABR 2013 - 00:00 CET
Pescanova crisis publicly evolves into a case of alleged financial crime involving a liquidity agonizing situation. In response, the National Securities Market Commission (CNMV) should act more quickly and decisively. It is not just that the company did not submit their accounts in due form, or the suspicion of a hidden debt that grows every hour, and it is assumed above the 3,000 million euros, or tensions in the Board of Directors to a financial storm do not know weather, it is the president, Manuel Fernández de Sousa, has sold 7% of the company without informing the regulator or to its own shareholders, in a deal that has all the evidence of an escape, insider, before the catastrophe.
The collapse of Pescanova is unusual because, despite its size, apparently no institutional resources (Board of Directors, regulators and the CNMV) and channel able to stop it. After more than 45 days of crisis are not yet known precisely the extent of hidden debt nor the alleged irrregularidades committed by President Fernández de Sousa to hide the ruin of the enterprise while supposedly safe put part of their heritage. The CNMV has merely requested again and again accounting for the company, but with very little success, which indicates the ability of a regulatory coercion should be feared by the senior managers of companies.
While the situation is rotting inside and outside-the HSBC bank has claimed bankruptcy Pesca Chile, Pescanova-subsidiary, the Board of Directors, responsible for ensuring the smooth running of the company, does not seem to have the strength to change the situation. Abundant rhetoric about the importance of the brand Spain, but when it comes to defending the prestige of the brand is that no tools or will to do so.
He knows exactly what is the most effective solution: expel Pescanova president, constitute a new counsel, and accepted the situation of crisis, survival Pescanova negotiate with creditor banks. The question is whether there is a willingness to adopt and who organizes salvation in the midst of the hurricane.
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