03-12-2012, 01:32 PM
Pacific Andes to re-visit ‘legal position’ with Russian government
Pacific Andes is to re-visit the legal position of its sourcing arrangements for Russian pollock, following reports the Russian government is forcing the company to sell assets it still denies owning.
The company, responding to the story that broke on Nov. 28 that the Russian Federal Antimonopoly Service (FAS) was forcing it to sell assets, acknowledged the reports, but continued to deny it owns fishing vessels or quotas in Russia.
Based on the “latest available legal advice”, the group believes its supply of fish “is in compliance with existing Russian law, and is sustainable”, said the company, which completed the fourth of its pre-payments to Russian suppliers recently.
“However, in view of these recent media reports, the group, in prudence, will re-visit the legal position with lawyers and will try to seek further clarifications with FAS,” it said.
http://www.undercurrentnews.com/2012/11/...Lw4Sddy2f4
Pacific Andes is to re-visit the legal position of its sourcing arrangements for Russian pollock, following reports the Russian government is forcing the company to sell assets it still denies owning.
The company, responding to the story that broke on Nov. 28 that the Russian Federal Antimonopoly Service (FAS) was forcing it to sell assets, acknowledged the reports, but continued to deny it owns fishing vessels or quotas in Russia.
Based on the “latest available legal advice”, the group believes its supply of fish “is in compliance with existing Russian law, and is sustainable”, said the company, which completed the fourth of its pre-payments to Russian suppliers recently.
“However, in view of these recent media reports, the group, in prudence, will re-visit the legal position with lawyers and will try to seek further clarifications with FAS,” it said.
http://www.undercurrentnews.com/2012/11/...Lw4Sddy2f4