Former Italian dairy giant Parmalat will relist on Milan’s stock market on
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
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.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
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