Parmalat, the bankrupt Italian dairy group, has had its proposal to
relist on the Italian stock exchange rebuffed, after Italian stock
market regulator Consob raised questions yesterday over its future
restructuring plans, Tom Armitage...
Bank of America, a leading figure in the Parmalat fraud trial, has
had its claims for criminal compensation rebuffed by an Italian
judge, Tom Armitage reports.
Enrico Bondi, the government-appointed special administrator of
bankrupt Italian dairy group Parmalat, is set to sue a number of
Italian financial groups in an attempt to stifle mounting criticism
that he has given preferential treatment...
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...
Parmalat, the Italian dairy company which has been in the hands of
the administrators since collapsing with massive debts last year -
has continued to take legal action against a number of leading
financial institutions in a bid to...
Italian dairy group Parmalat has announced its gross operating
profit for the first four months of the year has steadied, as a
government-appointed administrator prepares to meet creditors next
week in an attempt to ward off liquidation.
Campina, the international dairy company, is to acquire the Thai
dairy activities of disgraced Italian group Parmalat. Campina said
that the move was in line with its strategy to exploit the Asian
dairy market, and the fallen giant's...
Despite Italian food giant Parmalat's financial crisis, its
divisions in both Romania and Hungary continue to operate. Indeed,
Parmalat Hungary is expecting that in the run up to accession,
production will increase in response...
Italy's Agriculture minister has ratified Parmalat's proposal in
streamlining its business for survival. The company is set to sell
arms of its business to focus on 30 out of its 120 brands. However,
industry analysts believe...
Parmalat, the financially troubled dairy group, has requested the
help of the turnaround company that recovered Enron's finances last
year - Kroll. The company plans to recover Parmalat's assets, and
the move justifies Parmalat's...
Parmalat representatives from across Europe will meet today to
discuss the measures that the new management will take to help its
distressed units. Trade union leaders in Hungary claim that the
Eastern European country's unit...
Workers at the UK Parmalat site in Kendal fear that the Italian
company's financial misfortune could affect their pension plans in
the future. According to local report, union members are demanding
answers from the management.
Italian food group Parmalat said on Monday that it had a net debt
of €14.3 billion ($17.6 billion) in September 2003, almost eight
times the figure given by former managers of the troubled group.
After conducting an internal review, Tetra Pak has categorically
stated that all payments made to disgraced Italian dairy giant
Parmalat were made directly to local Parmalat companies.
There is a defining issue for dairy giant Parmalat that has
virtually nothing to do with fraud. If it lives to trade another
day, it will be because it hung on to its suppliers.
Tetra Pak has launched an internal enquiry following claims by a
former Parmalat executive that the world's largest packaging group
made payments directly to the accounts of Parmalat's owners, the
Tanzi family.
Uncertainties over milk purchasing levels and payments caused by
the financial crisis at dairy giant Parmalat is forcing southern
European farmers into a race to secure guaranteed sales that may
quickly put pressure on milk prices.
The emergency decree passed late last month by the Italian
government in a bid to save dairy giant Parmalat from collapse
looks set to win support from the European Commission on the back
of guarantees that there will be no state...
As the scandal surrounding Italy's food and giant Parmalat deepens,
Berlusconi's government rustles up emergency measures to tackle
'Europe's Enron', with a strategy to save jobs and pay the
suppliers.
Things just keep going from bad to worse for Parmalat. Just a week
after it escaped defaulting on a bond repayment by the skin of its
teeth, and with barely enough time for new chairman and turnaround
expert Enrico Bondi to warm his...
The finances of Parmalat, the Italian dairy group, hit the
headlines again last week with the announcement that it planned to
liquidate its €496.5 million investment in the Cayman Islands-based
Epicurum fund - an investment which...
The Italian food group, Parmalat said that its sales in the
Americas were devastated by the appreciation of the euro against
the US and Canadian dollar during the first half.
Italian food group Parmalat has been busy this week. Not only has
it opened its first bottled water bottling plant in the Canadian
province of Quebec, it has also begun legal proceedings against
Agrinove over an alleged copyright...
