Parmalat Presses To Move Auditor Suits To State Court

Law360, New York (May 9, 2011, 8:10 PM EDT) -- The foreign trustee overseeing Parmalat SpA's reorganization overseas and a liquidating Parmalat financial unit on Monday sought to move to Illinois state court their suits in New York implicating auditor Grant Thornton International in the securities fraud class litigation that bankrupted the Italian dairy giant.

Parmalat Capital Finance Ltd., a subsidiary undergoing liquidation in the Grand Caymans, and Dr. Enrico Bondi, trustee and CEO of the reorganized Parmalat, urged the federal court in New York, the site of Parmalat-related multidistrict litigation, to abstain from exercising jurisdiction...
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