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.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

Find your dream retirement town

Florida? Hawaii? Reuters has teamed up with Zillow to give you the power to customize a list of your best places to retire.  Video | Full Article