Link: Parmalat special
Government-appointed administrator Enrico Bondi is hoping that Kroll will be able to track recover some of the money lost in the €14.5bn (£9.5bn) accounting hole discovered in December last year.
To date, just €50m has been recovered.
Although it is now known that Parmalat hid massive losses for more than thirty years, investigators believe millions of euros can still be tracked down in a web of bank accounts in the Cayman Island, Switzerland, Monaco, Liechtenstein, Malta and the US, the FT reported.
PricewaterhouseCoopers are going through the Parmalat accounts with the accounting equivalent of a fine tooth comb, as part of the inquiry into the scandal which has rocked Italy and the world.
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies
Smith & Williamson has been appointed administrators of charity 4Children