Parmalat Gets Protection From Creditor Suits

Law360, New York (June 22, 2007, 12:00 AM EDT) -- A bankruptcy court in Manhattan has approved Parmalat Finanzaria SpA's bid for a permanent injunction barring creditors from litigating prepetition claims against the Italian food and dairy giant in the United States.

Though U.S. Bankruptcy Judge Robert Drain signed off on the injunction Thursday, it was narrowed after creditors, including Bank of America, objected.

Despite the court's decision to issue the injunction, Bank of America was pleased because the injunction had been modified, according to an attorney with Sidley Austin LLP, which represents Bank of America...
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