Judge Rejects Banks' Appeal In Parmalat Matter

Law360, New York (November 9, 2006, 12:00 AM EST) -- In the wake of Parmalat SpA's collapse amid a massive accounting scandal, an Italian court has rejected JP Morgan Chase & Co and UniCredit SpA’s attempt to block various units of the Italian dairy giant from being included on a list of creditor companies.

On Thursday, Parmalat revealed that the Lazio administrative court had denied the banks’ bid to thwart the subsidiaries from joining the list, and had ordered the pair to cover the legal expenses connected with the appeal.

Parmalat has been reeling since suffering...
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