Parmalat bank barred from lawsuit
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Bank of America fails in its attempt to sue bankrupt Italian food group Parmalat, as do the group's former auditors.
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Citigroup sued Italy on Friday, claiming that the government appointee who runs the bankrupt Parmalat would unfairly pay only 2 million euros (US$2.48 million) of Citigroup's claim of a 538 million euro debt.
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11/10/2004 - Citigroup, the worldâs largest financial services group, hits back at the â¬14 billion debt-ridden Italian dairy group Parmalat, igniting a legal challenge against the administrators on Friday.
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Parmalat sues 45 banks as it tries to reclaim money paid to banks before the scandal-hit Italian dairy company went bust last year.
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Citigroup on Friday launched a legal  challenge against a restructuring plan drawn up by Parmalat,  hitting back after the bankrupt food group took the world's  biggest bank to court recently.
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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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Citigroup (CN: Quote, Profile, Research) on Friday launched a legal challenge against a restructuring plan drawn up by Parmalat, hitting back after the bankrupt food group took the world&#39;s biggest bank to court recently.
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Banca Intesa Sanpaolo Group said on Saturday it agreed to pay 327 million euros ($469.9 million) to settle a lawsuit brought by Parmalat over the Italian dairy company's 2003 collapse.
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Deutsche Bank has filed a motion to dismiss a bankruptcy claim by Yukos in the US after a Houston court barred the German bank from lending money to Gazprom to bid for Yuganskneftegas, Yukos&#39;s main asset.
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Insolvent dairy company Parmalat said Thursday it was suing Credit Suisse First Boston to get back 248 million euros (&#36;306 million) that the Italian conglomerate's former executives paid the investment bank as part of a 2002 deal.
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Citigroup on Friday launched a legal challenge against a restructuring plan drawn up by Parmalat, hitting back after the bankrupt food group took the world&#39;s biggest bank to court recently.
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The jailed founder and former chief executive of the failed Italian food giant Parmalat, Calisto Tanzi, was released from house arrest but remains subject to some restrictions as he awaits trial for fraud.
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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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The Supreme Court rejected an appeal by Sumitomo Trust &amp; Banking Co against a Tokyo High Court decision on Aug 11 lifting a ban imposed by the Tokyo District Court on UFJ including its trust bank unit in the merger talks.
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An Italian judge on Wednesday refused a lawyer's request to move a trial into the fraud scandal at Italian dairy giant Parmalat from Milan to Brescia, news reports said.
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Parmalat on Thursday fired off the latest  lawsuit in its bid to recover billions of euros from banks that  did deals with the now insolvent dairy group, suing CSFB for  about 250 million euros.
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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.