Italy's Parmalat sues ex-auditors
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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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ROME  - Parmalat's government-appointed administrator filed a suit against Bank of America in federal court in North Carolina on Thursday, seeking billions of dollars in damages over past dealings, the scandal-stung dairy giant said.
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ROME  - Financial services giant Citigroup Inc. has filed a suit in an Italian court complaining it has been treated unfairly by Parmalat's new administration following the global dairy giant's bankruptcy filing.
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Global finance titan Citigroup said it was challenging the Italian government's reorganization plan for bankrupt food group Parmalat, claiming the bank is not being compensated for losses from massive fraud.
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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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Italian dairy giant Parmalat SPA owes nearly &#36;26 billion to creditors including many big international banks, a judge ruled Friday in a decision that will affect who will become a shareholder in the reorganized company.
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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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Parmalat, the bankrupt Italian dairy and food company, sued 45 banks on Thursday seeking to recover money it paid to them in the year before the company&#39;s collapse.
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THE bankrupt Italian food group Parmalat said today its special administrator Enrico Bondi has filed a US lawsuit against Bank of America.
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Parmalat's administrator Enrico Bondi will claim &quot;very substantial&quot; damages from the failed company's former executives and others in a Milan court hearing on October 5, the lawyer representing Bondi in the hearings said.
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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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A judge in Milan today ruled that two former auditors of Parmalat should stand trial over the â¬14bn collapse of the Italian dairy giant.
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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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Dairy group Parmalat, which went bankrupt in 2003, reaches damage settlements with three major banks.
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Italian dairy giant Parmalat SPA owes nearly $26 billion to creditors including many big international banks, a judge ruled Friday in a decision that will affect who will become a shareholder in the reorganized company.
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Citigroup Inc., the biggest creditor of Parmalat Finanziaria SpA, sued Italy for its handling of the foodmaker&#39;s bankruptcy, saying the restructuring violated its rights as a lender owed almost 540 million euros ($665 million).
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Citigroup (CN: Quote, Profile, Research) on Friday launched a legal challenge against Parmalat&#39;s restructuring plan, hitting back after the bankrupt food group