Spanish regulator proposes Deloitte as Pescanova administrator

MADRID, April 26 Fri Apr 26, 2013 1:56pm EDT

MADRID, April 26 (Reuters) - Spanish stock market regulator CNMV said on Friday it had proposed Deloitte as the administrator of Spanish fishing firm Pescanova, which has filed for insolvency.

A Spanish court accepted Pescanova's insolvency filing on Thursday and put the CNMV in charge of appointing independent administrators.

Pescanova has filed for insolvency on 1.5 billion euros of debt but financial sources who have had dealings with the company say total debt is probably more than double that amount, potentially making it the country's third-largest bankruptcy.

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