Judge Chides Parmalat Over Recovery Suits

Law360, New York (February 7, 2007, 12:00 AM EST) -- The New York federal judge presiding over a bunch of lawsuits stemming from Parmalat’s bankruptcy this week reproached the dairy giant for its tactics, adding he doubted the cases would ever go to trial.

Manhattan District Court Judge Lewis Kaplan criticized Parmalat’s move to launch separate recovery ‘clawback’ actions against banks and auditors for their alleged role in the company’s 2003 collapse, adding that the slew of suits would either be resolved by motions or settled out of court.

The judge made his comments Monday, in...
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