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Pacific Andes lender: Recovery of $611m in questionable Russian pollock payments uncertain

No formal documentation to record the flow of funds to Russia for prepayments or refunds, if any, with the recovery ‘extremely uncertain’, says lender Maybank

By Tom Seaman | July 11, 2016 17:13 BST
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Alaskan pollock is by far the largest EU's tariff-free seafood quota, with 340,000t proposed for 2021-2023
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The “recoverability” of $611 million on the balance sheet of a Pacific Andes group company from prepayments apparently to Russian pollock suppliers is extremely uncertain, according to a document filed by one of its lenders [...]

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