Parmalat gets Bank of America settlement

  • October 6, 2009
  • Isobel Drake

Parmalat S.p.A. has finalised their settlement with the Bank of America after a long running battle in the wake of Parmalat’s 2003 collapse.

The Italian dairy firm received US$98.5 million (A$112.5m) on October 2 following allegations that the Bank of America had sold Parmalat bonds while well aware that the company was under severe economic stress.

The bank refutes the claims, with the case now closed before it ever reached court.


Bookmarks

  • Digg
  • Sphinn
  • del.icio.us
  • Facebook
  • Mixx
  • Google Bookmarks
  • Furl
  • Netvouz
  • NewsVine
  • Reddit
  • Fark
  • Propeller
  • Slashdot
  • StumbleUpon
  • Technorati

Reader Comments

Australian Food News reserves the right to edit or not publish comments of a potentially offensive or defamatory nature. Comments will not be published if name and email address has not been provided (name and email will be withheld if requested).

The opinions expressed below are those of Australian Food News readers and do not necessarily reflect those of Australian Food News.