Citigroup To Face Trial Over Parmalat Collapse

Law360, New York (April 15, 2008, 12:00 AM EDT) -- A New Jersey judge has ordered Citigroup Inc. to trial next month over its alleged role in the collapse of Italian dairy giant Parmalat SpA but has agreed to strike all but one of the claims from the $10 billion lawsuit.

Judge Jonathan Harris, of Bergen County Superior Court, ruled Tuesday the bank, which extended credit to Parmalat before it filed for bankruptcy under a cloud of corruption, had a case to answer before a jury.

The judge dismissed RICO, fraud and conspiracy claims against the...
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