Legal issues

Judicial and arbitration proceedings

On December 24, 2003 the old Parmalat S.p.A. – a different legal entity from the current Parmalat S.p.A. – was admitted to the Extraordinary Administration procedure.

Parmalat S.p.A. was declared insolvent on 27 December 2003. The Extraordinary Administration procedure was broadened to other companies of the Group under E.A.

On October 1, 2005, by virtue of the Composition with Creditors approval, the assets and liabilities of the 16 companies included in the Composition have been transferred to the new Parmalat Group.

The new Parmalat Group is therefore party to various civil and administrative court proceedings, both as plaintiff and as defendant, concerning the situation that lead the old Parmalat S.p.A. and its subsidiaries close to bankruptcy.

To the best of the management knowledge, except as described in the Overview below, there are no other judicial, arbitral or administrative proceedings that could have a material negative effect on the assets, the financial situation or the results of the Group. It should be noted that, except for the cases explicitly indicated, no amounts have been set aside as risk fund, absent certain and objective elements and/or considering the unlikelihood of a negative outcome of the litigation.

Parmalat provides detailed information about Legal Issues in the annual report and the first half report and an update in the quarterly reports. Please see the following documents:

Latest Legal Issues-related Press Releases
Date Press release
15 Dec 2012Settlement Agreement with Ontario Teachers Pension Plan Board (38 Kb)
30 Oct 2012Decision of the Ontario Superior Court of Justice (19 Kb)
27 Mar 2012Canadian Arbitrator Decision (19 Kb)
21 Mar 2012Centrale del Latte di Roma decision of the State Council (19 Kb)
23 Dec 2011New Jersey Court Rejects Parmalat's Claim Against Citigroup (155 Kb)
05 Jul 2011Standard & Poor's held to disgorge fees (20 Kb)
23 Feb 2011Settlement with PPL Partecipacoes Limitada in bankruptcy, formerly Parmalat Partecipacoes do Brasil Limitada (21 Kb)
19 Jan 2011U.S. Second Circuit Court of Appeals Revives Illinois State Court Jurisdiction for Grant Thornton Case (29 Kb)
22 Dec 2010Settlement of claim (20 Kb)
02 Dec 2010Parmalat's Shareholding in the Centrale del Latte di Roma (22 Kb)
23 Nov 2010Agreement between Parmalat and UGF Banca SpA (20 Kb)
22 Oct 2010Centrale Latte Roma (22 Kb)
06 Sep 2010Delivery of shares and warrants (35 Kb)
30 Mar 2010Parmalat Capital Finance (20 Kb)
02 Mar 2010Centrale del Latte di Roma (20 Kb)
25 Feb 2010Settlement with Parmalat Capital Finance (28 Kb)
22 Dec 2009Settlement with Eurofood (19 Kb)
05 Oct 2009Settlement between Parmalat and Bank of America has become final (24 Kb)
18 Sep 2009Summary Judgment Granted to Grant Thornton (22 Kb)
04 Sep 2009Irish High Court Approval of Settlement with Eurofood (19 Kb)
28 Jul 2009Parmalat Announces Settlement with Bank of America (20 Kb)
06 Jul 2009Agreement between Parmalat and Banca Popolare dell'Etruria and Lazio Soc. Coop. (0 Kb)
20 May 2009Agreement between Parmalat and C.R. Firenze Bank (Intesa Sanpaolo Group) (29 Kb)
20 May 2009Parmalat to acquire certain fresh milk operations from National Foods (25 Kb)
17 Apr 2009Agreement between Parmalat and Carige Bank Group (20 Kb)
09 Apr 2009Meeting - Market's crisis and the food industry (124 Kb)
30 Mar 2009Agreement between Parmalat and MPS SpA, in its capacity as the Company absorbing Banca Antonveneta SpA (20 Kb)
02 Mar 2009Hearing regarding class action settlement (22 Kb)
26 Feb 2009Parmalat prevails over Grant Thornton's request for Summary Judgment (147 Kb)
18 Feb 2009Parmalat and Banco Popolare Group reach an Agreement (29 Kb)
11 Feb 2009Agreement between Parmalat and Credito Emiliano S.p.A. (20 Kb)
06 Feb 2009Agreement between Parmalat and Banca Popolare dell'Emilia Romagna Group (23 Kb)
06 Feb 2009Agreement Between Parmalat and the Banca Popolare di Vicenza Group (20 Kb)
06 Feb 2009Agreement Between Parmalat and the UBI Group (Unione di Banche Italiane S.c.p.a.) (53 Kb)
06 Feb 2009Agreement between Parmalat and the Deutsche Bank Group (23 Kb)
19 Dec 2008Parmalat's case against Citigroup proceeds to appeal (22 Kb)
13 Nov 2008The Italian Council of State grants the appeal of Parmalat SpA related to the subsidiary Centrale del Latte Roma SpA (19 Kb)
20 Oct 2008Superior Court of Bergen County, New Jersey, Rejects Parmalat's Claim Against Citigroup (23 Kb)
24 Sep 2008Parmalat Securities Litigation - Fairness hearing adjourned for non - U.S. class members (18 Kb)
22 Aug 2008Parmalat Securities Litigation - class certified only with respect to domestic purchasers (24 Kb)
07 Aug 2008Parmalat S.p.A. ceases discusslons with Murray Goulburn (142 Kb)
01 Aug 2008Parmalat and the UniCredit Group Agree to a Settlement (20 Kb)
25 Jul 2008Directed Verdict Decision in Favor of Parmalat in U.S. Proceedings against Citigroup (19 Kb)
22 Jul 2008Court of Appeals for the Second Circuit in New York Denies Appeal (23 Kb)
13 Jun 2008Agreement between Parmalat and UBS (24 Kb)
13 Jun 2008Agreement between Parmalat and Credit Suisse (24 Kb)
09 May 2008Actions against Citigroup underway (19 Kb)
02 May 2008Settlement with "class" (19 Kb)
22 Apr 2008Parmalat and Banca Italease Group in settlement agreement (19 Kb)
18 Apr 2008Ruling of the Milan Court in market rigging procedure involving banks (19 Kb)
15 Apr 2008Citi case to proceed to trial (19 Kb)
21 Mar 2008Appeal against the decision of the Court of Appeal of Bologna (24 Kb)
21 Feb 2008Parmalat and Banca Monte dei Paschi di Siena Groupin settlement agreement (24 Kb)
16 Jan 2008Decision by the Appeal Court of Bologna related to the approval of the Parmalat Composition with Creditors (19 Kb)
22 Dec 2007Parmalat and Intesa Sanpaolo Group in settlement agreement (39 Kb)
07 Dec 2007Clarifications on Newlat (24 Kb)
06 Dec 2007Parmalat prevails in Citibank's motion to dismiss (23 Kb)
29 Nov 2007Hearing in the United States Court for the Second Circuit (19 Kb)
08 Nov 2007Statement by Parmalat on press releases (19 Kb)
10 Oct 2007Settlement agreement between Parmalat and Banca Ifis S.p.A. (19 Kb)
02 Oct 2007Parmalat prevails in Citibank's motion to dismiss (23 Kb)
27 Sep 2007Settlement agreement between Parmalat and Calyon (formerly Credit Agricole Indosuez, S.A.) (19 Kb)
27 Sep 2007Settlement Agreement between Parmalat and Graubuendner Kantonalbank (GKB) (21 Kb)
18 Sep 2007Clarification on press article (29 Kb)
10 Aug 2007Clarification on Southern District of New York ruling (20 Kb)
24 Jul 2007Clarifications on the decision of Court of Appeals Relating to Grant Thornton¿s Contribution Claims towards Parmalat in Extraordinary Administration (19 Kb)
20 Jul 2007Parmalat denies news on the press (24 Kb)
02 Jul 2007Parmalat Securities Litigation - decision of the Federal Court of New York (21 Kb)
22 Jun 2007Bankruptcy protection under 'Section 304' (23 Kb)
18 Jun 2007Settlement agreement between Parmalat and ING Bank (20 Kb)
18 Jun 2007Settlement agreement between Parmalat and Merrill Lynch (19 Kb)
18 Jun 2007Settlement agreement between Parmalat and Banca Monte Parma (26 Kb)
23 May 2007Parmalat prevails in Citigroup's motion to appeal (19 Kb)
07 May 2007Bankruptcy protection under 'Section 304' (23 Kb)
03 May 2007Switzerland Recognizes the Court Decision Officially approving (19 Kb)
28 Apr 2007Settlement agreement between Parmalat and Banca delle Marche (28 Kb)
06 Apr 2007The Italian Constitutional Court confirms the constitutional legitimacy of revocatory actions (25 Kb)
29 Mar 2007Class Action U.S.A. - Clarification (20 Kb)
16 Mar 2007Parmalat prevails in Citigroup's motion to appeal (21 Kb)
05 Mar 2007Bankruptcy protection under 'Section 304' (19 Kb)
21 Feb 2007Settlement Agreement between Parmalat SpA and Deloitte & Touche SpA and Dianthus SpA (19 Kb)
02 Feb 2007Parmalat settlement with BPM Group (25 Kb)
23 Jan 2007Citigroup Loses Appeal Against Parmalat (21 Kb)
19 Jan 2007Hearing date for protection from creditors under Section 304 US bankruptcy code (19 Kb)
12 Jan 2007Settlement Agreement between Parmalat SpA and other Group Companies and Deloitte & Touche (20 Kb)
11 Jan 2007Italian Antitrust Authority grants extension of time (19 Kb)
10 Jan 2007Specifications on the pending Parmalat's lawsuit against Citigroup (19 Kb)
10 Jan 2007Resumption of discovery of Parmalat proceedings before the Southern District of New York (19 Kb)
04 Jan 2007New provision on the constitutional legitimacy of revocatory actions (20 Kb)
29 Dec 2006Settlement agreement between Parmalat and other Group companies and BNL and Ifitalia (31 Kb)
20 Dec 2006Centrale del Latte di Roma S.p.A. - Quashed the Decision of the Regional Administraive Court of Lazio ("TAR Lazio") (29 Kb)
07 Dec 2006The Italian Constitutional Court states again legitimacy of revocatory actions (23 Kb)
22 Nov 2006Adjournment of discovery schedule in Parmalat multidistrict litigation (19 Kb)
21 Nov 2006Centrale del Latte di Roma (20 Kb)
20 Nov 2006Hearing date for protection from creditors under Section 304 of the US bankruptcy (19 Kb)
09 Nov 2006Rejection of the filings by JP Morgan and Unicredit Banca Mobiliare S.p.A. (19 Kb)
08 Nov 2006Clarifications on the rumours of transaction with Banca Intesa and San Paolo Imi (19 Kb)
31 Oct 2006Boschi Luigi e Figli S.p.A. Composition: sentence approving the Composition of Boschi has been passed (19 Kb)
18 Oct 2006Hearing date for the protection from creditors under Section 304 of the US (19 Kb)
04 Aug 2006Parmalat and Banca Popolare Italiana in settlement agreement (39 Kb)
29 Jul 2006Addendum to U.S. class action press release (20 Kb)
28 Jul 2006The Proposal of Composition with Creditors of Boschi Luigi e Figli S.p.A. was (20 Kb)
28 Jul 2006Usa Class action (20 Kb)
14 Jul 2006Parmalat wins Appeal Against Citigroup: Suit to proceed in New Jersey (21 Kb)
06 Jul 2006Lawsuit against GKB - Amendment (20 Kb)
06 Jul 2006Lawsuit against GKB (21 Kb)
02 Jun 2006Protection from creditors extended under Article 304 of the US bankruptcy law (20 Kb)
31 May 2006Brazilian Operations (20 Kb)
20 Apr 2006PARMALAT: CLARIFICATION REGARDING DAMAGES ACTIONS (21 Kb)
06 Apr 2006Concordato Terms for Privileged Creditors and Creditors in Prededuction Fulfilled (20 Kb)
05 Apr 2006Claw-back actions: the questions of constitutional legitimacy are unfounded (19 Kb)
30 Mar 2006Protection under Section 11 art. 304 (19 Kb)
17 Mar 2006U.S. Judge Upholds Parmalat's Right to Seek Damages Internationally from Former Auditors (81 Kb)
09 Mar 2006TAR Lazio Citibank complaint (18 Kb)
09 Feb 2006Bankruptcy protection under 'Section 304' (19 Kb)
02 Feb 2006Attached to the Press Release of 2 February 2006 (149 Kb)
02 Feb 2006Parmalat¿s US civil action for damages against Bank of America to proceed following Federal District Judge Ruling (20 Kb)
17 Jan 2006Referral to the Italian Constitutional Court (20 Kb)
11 Jan 2006Brazilian Operations (28 Kb)
09 Dec 2005Bankruptcy protection under 'Section 304' (20 Kb)
07 Dec 2005Claw back actions (17 Kb)
06 Dec 2005Revocatory actions and claims for compensation (25 Kb)
01 Dec 2005Lawsuits from Food Holdings Ltd. Dairy Holding Ltd and Parmalat Capital Finance unrelated to Parmalat SpA (14 Kb)
Last update: 20/03/2014
Text size:   A A A
Italiano
English

© 2014 Parmalat S.p.A. Sede: Via delle Nazioni Unite, 4 43044 Collecchio (Parma) Italia Tel.+39.0521.8081 Fax +39.0521.808322
Cap. Soc. € 1,828,661,317 i.v. R.E.A. Parma n. 228069 Reg. Imprese Parma n. 04030970968 Cod. Fisc. e P. IVA n. 04030970968
Società soggetta a direzione e coordinamento di B.S.A. S.A.