Four major international investment banks are to face charges over the bankruptcy of Italian dairy giant Parmalat, which collapsed due to accounting fraud.
An Italian judge said Citigroup, UBS, Deutsche Bank and Morgan Stanley would all face charges over their involvement in the 2003 bankruptcy of Parmalat.
The banks have been accused of not stepping in with measures that would have alleviated the company's plight.
Parmalat collapsed under £9.4bn worth of debt, but was later restructured.
All four of the banks deny any wrongdoing in the case.
Further reading:
Deloitte ordered to pay £66m in Parmalat settlement
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