Judge Ruz has asked the accountants who are investigating Pescanova's administrative board. Their report will determine whether a procedure will go forward or not. Taking this step makes perfect sense in light of a possible million-euro fraud scandal that Pescanova management knew about.
It also looks like the company sold shares without notifying the CNMV, Spain's stock market regulator. The CNMV has asked the national tax office to investigate what happened.
Now it is important to push the proceedings forward. The firm's situation worsens and is close to the point of no return, because Pescanova's ship has water in all the holds.
