Deloitte Agrees To Pay Parmalat Bondholders

Law360, New York (January 9, 2008, 12:00 AM EST) -- Deloitte Italy and a committee representing 32,000 Parmalat SpA bondholders reportedly reached a deal on Wednesday to reimburse the bondholders for the damages they suffered from the dairy company's fall into bankruptcy.

Under the settlement, compensations for bondholders would be up to 6% of the nominal value of the investments made before Nov. 11, 2003, Parmalat's ex-auditor said, according to Thomson Financial News. The average payments will provide 4.5% to 5% of up to €50,000 worth of bonds.

Bondholders who take part in the deal will,...
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