In Blow To Parmalat, BofA Named As Plaintiff

Law360, New York (December 20, 2005, 12:00 AM EST) -- Bank of America has been admitted as a civil plaintiff in the Italian fraud trial of dairy and juice company Parmalat Inc. The surprising turnaround allows the lender to portray itself as victim after being accused of fraud in the food giant’s collapse.

The decision is a big boon for Bank of America. In January, an Italian judge had rejected Bank of America’s request to be named as a plaintiff at a time when the bank’s involvement was still under investigation.

The case, against Parmalat founder...
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