China’s Legend Sues Chilean Investor in US Over Salmon Deal
- Isidoro Quiroga accused of fraud in sale of Australis in 2019
- Legend wants to have judge stop Quiroga’s asset transfers
Salmons at farms in Los Lagos region, Chile.
Photographer: Alvaro Vidal/AFP/Getty ImagesThis article is for subscribers only.
The China-based parent of Chilean salmon farmer Australis Seafoods said in a US lawsuit that former owner Isidoro Quiroga defrauded it when he sold the aquaculture company for $900 million and then tried to hide assets bought with the proceeds.
Australis, a unit of Legend Holding Corp., sued in Delaware state court alleging Quiroga didn’t disclose that his company was exceeding Chile’s salmon-production limits to artificially inflate the firm’s 2019 sale value.