China’s Legend Sues Chilean Investor Over $900 Million Salmon Deal

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Australis Seafoods, a unit of Legend Holding, has sued the former owner of the Chilean salmon farmer in a U.S. court. Photo: Bloomberg

(Bloomberg) —The China-based parent of Chilean salmon farmer Australis Seafoods said in a U.S. 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.