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Banks To Pay Parmalat $136M In Deals Over Collapse

Law360 (February 6, 2009, 12:00 AM EST) -- Parmalat SpA has reached settlements worth nearly $136 million with four banks, including Deutsche Bank, to resolve all legal claims related to the 2003 collapse of the Italian dairy giant.

In announcing the deals Friday, the company said Deutsche Bank had agreed to pay a total of €76.5 million ($98.9 million) in exchange for the dismissal by Parmalat of all pending and future claims against the bank.

Three other banks — UBI Banca, Banca Popolare dell'Emilia Rompagna and Banca Popolare di Vicenza — also reached settlements...
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