Italian dairy group Parmalat continues its fight back from
insolvency after emerging victorious yesterday from another set of
legal disputes over responsibility for its financial collapse in
2003.
Parmalat's profit before interest and tax rose 18.4 per cent in the
first two months of 2006 to € 45 million, with predictions that net
debt would remain stable over the year.
Parmalat's chief executive Enrico Bondi has pointed the finger at
the company's creditors, accusing them of having knowledge of the
disgraced dairy giant's finances.
Today's board meeting at Parmalat, the first since Enrico Bondi was
appointed as chief executive last week, will help to determine
which direction the Italian dairy giant goes from here.
Parmalat has sued banks JPMorgan Chase and Unicredito Italiano for
€4.4 billion for their roles in the sale of Parmalat bonds issued
from 1997 through 2001.
Parmalat, the bankrupt Italian dairy group, is bracing itself for
the verdict of an Italian judge, which could force Enrico Bondi,
the group's government-appointed administrator, to reconsider
claims from former creditors worth...
In yet another twist arising from one of the largest scandals in
Italian corporate history, Parmalat, the bankrupt Italian dairy
company, has agreed to pay former creditor Deutsche Bank an
additional €26 million, a gesture which could...