Parmalat Criminal Case Moves Forward

Law360, New York (June 5, 2006, 12:00 AM EDT) -- A court in Parma, Italy kicked off the main criminal proceedings Monday in Parmalat’s $18 billion collapse, with 64 former executives, financial advisers and bankers on the hook for fraud allegations that contributed to one of Europe’s largest corporate debacles.

Although it is just one of many lawsuits filed against the dairy giant’s former executives and others for allegedly conspiring to cover up the company’s growing debt, this case is the most significant in that it brings claims of fraudulent bankruptcy, alleges criminal association in 44...
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