Italian Court Upholds Parmalat “Clawback” Law
On Tuesday, the Italian Constitutional Court sustained the law permitting Parmalat’s so-called “clawback” claims, dismissing lenders’ earlier protests as “groundless.”
In late 2003, the government approved an expansion of the country’s bankruptcy law to protect Parmalat from creditors as it sought to restructure.
Parmalat founder Calisto Tanzi and 15 other...
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