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Supreme Court orders the Xunta to compensate for Pescanova’s subsidiary

SPAIN
Monday, March 02, 2015, 03:00 (GMT + 9)

Pescanova Group's failed megaproject of farmed turbot continues to generate controversy and court rulings. The Administrative Litigation Division of the Supreme Court, the same as the Superior Court of Xustiza of Galicia (TSXG) had done before, requested the Xunta to compensate with EUR 1,091,109 Insuiña S.L. Company, a subsidiary of the multinational Pescanova, for giving permission and then forbidding the development of an aquaculture facility in Cape Touriñan, Muxia. The firm sought a payment of EUR 9 million in compensation, but the Supreme Court rejected that amount. Although the Government of Galicia in 2005 had granted the permission, it suspended the agreement the following year, which affected an installation within Natura 2000 protected area. For damages suffered, Pescanova demanded a greater amount, to compensate for lost profits. However, the ... FULL STORY

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