BusinessBusiness RecoveryParmalat to relist on Milan stock market

Parmalat to relist on Milan stock market

Reborn dairy group to relist as lawsuits against banks continue

Former Italian dairy giant Parmalat will relist on Milan’s stock market on
Thursday.

Its safe passage was cleared by Consob, the market watchdog, after Parmalat
promised to add to its prospectus details of the myriad of lawsuits initiated
following its spectacular collapse in 2003.

According to the BBC, the prospectus has revealed that Parmalat is
suing Credit Suisse First Boston for 7.1bn euros (£4.8bn; $8.5bn) in damages
over the bank’s alleged role in the group’s collapse.

Parmalat has already sued a number of former banks and accountancy firms for
billions of euros, including Citigroup, Bank of America, UBS, and auditors Grant
Thornton.

The firm made a 248.3m euros claim against Credit Swiss First Boston last
year, and it is not clear whether this new claim includes the smaller amount, or
is in addition to it.

Related Articles

Investment firm acquires Avon Steel Company Limited

Business Recovery Investment firm acquires Avon Steel Company Limited

4d Emma Smith, Managing Editor
Manchester law firm enters into administration

Business Recovery Manchester law firm enters into administration

4d Emma Smith, Managing Editor
KPMG appoints new global head of insolvency

Business Recovery KPMG appoints new global head of insolvency

3w Emma Smith, Managing Editor
EY hired by Carillion to review finances

Accounting Firms EY hired by Carillion to review finances

5m Alia Shoaib, Reporter
Using insolvency as a debt recovery tool

Business Recovery Using insolvency as a debt recovery tool

6m Emma Smith, Managing Editor
UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report

Business Recovery UK government should support mid-sized businesses to create a ‘new economy’ post-Brexit, says BDO report

8m Alia Shoaib, Reporter
Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

Business Recovery Over 800 jobs saved as Endless LLP acquires Jones Bootmaker

9m Emma Smith, Managing Editor
FRP Advisory expands operation with new office, partner appointments

Accounting Firms FRP Advisory expands operation with new office, partner appointments

10m Emma Smith, Managing Editor