Banca Popolare Italiana

Parmalat SpA and Banca had filed lawsuits against one another related to the dairy company's corporate fraud scandal collapse in December 2003. Parmalat was seeking money in revocatory claims, which allow a company to recover money paid to creditors shortly before bankruptcy. Under the terms of the settlement, Parmalat has agreed to drop all legal actions against the bank. Parmalat and Banca Popolare Italiana have agreed to 59.5 million euro settlement (Aug-06-06) [FORBES]

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Published on Aug-8-06