Gowex Seeks Court Shelter As CEO Faces Accounting Charges

Law360, New York (July 10, 2014, 5:36 PM ET) -- Spanish Wi-Fi hotspot provider Let’s Gowex SA sought bankruptcy court protection in Madrid on Thursday after a U.S. hedge fund unearthed an accounting scandal that has reportedly landed former CEO Jenaro Garcia Martin under criminal prosecution for reporting fictitious profits.

After years as a darling of the Spanish technology sector and a symbol of the nation's resurgence from a debt crisis, Gowex filed papers with a commercial court in Madrid reporting that the company faces imminent insolvency and has entered talks with principal creditors about a...
To view the full article, register now.

DEWEY LIVE BLOG

Follow our exclusive coverage of the trial of the year:

Catch up on the Dewey trial here