Parmalat Investors Flock to Milan Court Hearing Seeking Damages
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Hundreds of Italians who lost savings in the collapse of food company Parmalat Finanziaria SpA flocked to Milan&#39;s courthouse, seeking to recover damages as part of the criminal investigation of Italy&#39; biggest bankruptcy.
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Italian-based Parmalat is suing its former auditors -- Grant Thornton International and Deloitte Touche Tohmatsu -- for billions of dollars in damages. Parmalat blames its demise on the two companies&#39; mismanagement of its finances.
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Citigroup said it launched a legal challenge against Italian authorities responsible for Parmalat&#39;s restructuring, alleging they failed to ensure a fair process for
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LONDON, August 18 (New Ratings)  The insolvent Italian dairy food product company, Parmalat Finanziaria SpA (PAF.FSE), filed a lawsuit against its former auditors, Deloitte &amp; Touche and Grant Thornton, today, seeking damages of at least $10 billion.
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Bank of America Corp. said Friday it had filed for damages against former officials and auditors of collapsed dairy giant Parmalat at a preliminary hearing in Milan, as the bank attempts to avoid blame in the massive fraud scandal.
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Citigroup on Friday launched a legal  challenge against Parmalat's restructuring plan, hitting back  after the bankrupt food group took the world's biggest bank to  court and rejected its claims for credit repayment.
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Judge Lewis A. Kaplan of Federal District Court in Manhattan gave final approval to a $50 million partial settlement by Banca Nazionale del Lavoro of Italy and units of the Credit Suisse Group in an investor lawsuit over the collapse of the Italian dairy company Parmalat in 2003. Banca Nazionale and units of Credit Suisse each will pay $25 million and make corporate governance changes. The judge also approved expenses of $6 million for lawyers of the plaintiffs.
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Prosecutors in the Parmalat fraud case appeared in court Tuesday to convince a judge to order trials for 29 people, ranging from the dairy giant's founder to former company financial officers and accountants.
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A preliminary court hearing into the collapse of food firm Parmalat, Italy's biggest ever corporate scandal, begins on Tuesday.
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Several big international banks have won a legal bid for recognition of billions of euros owed to them by Parmalat, putting them in line
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Citigroup launched a legal challenge  against Parmalat's restructuring plan on Friday, hitting back  after the insolvent food group rejected its claims for credit  repayment and sued the bank for damages.
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Extraordinary commissioner Enrico Bondi has filed a claim against CSFB in a Parma court in connection with a forward sale agreement between the bank and Parmalat dating from January 2002.
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ITALIAN dairy giant Parmalat owes its creditors billions of dollars, a judge ruled yesterday in a decision that will let big international banks become shareholders in a new listed company formed from the ruins of the collapsed group.
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Parmalat's ex-auditors are sued over their dealings with the insolvent group before its near collapse
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Get breaking news and essential company info, all in a single place. MILAN, Oct 3  - Ten months after the Parmalat scandal rocked the global finance industry, a judge next week begins deciding whether ...
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The bankrupt Italian food group Parmalat said its special administrator Enrico Bondi has filed a US lawsuit against Bank of America.
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Parmalat&#39;s government-appointed administrator filed a suit yesterday against Bank of America in a federal court in North Carolina in the latest attempt by the