MILAN (Thomson Financial) - Parmalat SpA has asked Citigroup $2.2 billion in
damages for the group's collapse in 2003 in the court trial that began in New
Jersey on Monday, much less than the initial $10 billion initially sought by the
Italian group, according to a report in daily Il Sole 24 Ore.
According to the daily, separately, in the court case in Milan, former
auditor Deloitte & Touche reached a settlement to reimburse some 16 million
euros to former holders of Parmalat bonds.
The agreement however has to be approved by the court in a hearing that will
be held on September 19, Il Sole added.
The report said that so far 88 percent of the bond-holders, mostly members
of the Sanpaolo Committee, accepted the settlement and will receive some 14
million euros, while another two million euros will be paid to bond-holders
belonging to other associations.
Deloitte has already paid 8.9 million euros on the bank accounts of 11,179
investors who have filed a civil claim.
Investors who have still not accepted the settlement will have two months
from the final verdict, expected on September 19, to accept the offer, the daily
said.
yael.schrage@thomsonreuters.com
ysc/ra
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