Parmalat Bondholders To Recoup Some Losses

Law360, New York (June 20, 2007, 12:00 AM EDT) -- A Milan judge has reportedly upheld a plea bargain agreement by Nextra in a move that will see the Italian asset management company reimbursing bondholders for losses they incurred as a result of the 2003 collapse of Italian dairy king Parmalat SpA.

Under the terms of the plea bargain, Nextra, which settled with Parmalat for €160 million in 2004, will reimburse bondholders 1% of the nominal value of the bonds issued before they lost value, the Wall Street Journal reported Tuesday.

Nextra, which is set to...
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