Parmalat Claws Back At Capitalia With €4.5B Suit

Law360, New York (April 20, 2006, 12:00 AM EDT) -- In the wake of Italy’s highest court upholding a controversial “clawback” law, Parmalat SpA has sued Capitalia SpA for €4.5 billion in damages for its alleged role in the Italian food and dairy giant’s scandal-ridden collapse.

Capitalia SpA, formerly Banca di Roma, revealed the news on Thursday, as shareholders voted to confirm Cesare Geroniz as the bank’s chairman after a two-month suspension.

Geronzi had been suspended from all of his public company posts for his purported role in Parmalat’s bankruptcy, following a February Parma court ruling....
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