The court made the ruling on December 28, Collecchio, Italy-based Parmalat said in a statement distributed by the Italian stock exchange yesterday. Parmalat returned to the stock market in October 2005 after a two-year reorganization under CEO Enrico Bondi.
The company has filed suits seeking over €20 billion ($26.2 billion) in damages from banks that sold €7 billion in bonds for the company before 2003. The ruling upholds the company right to seek damages from lenders including Banco Popolare di Verona e Novara Scrl, Credit Suisse Group‘s international unit, and Sanpaolo IMI SpA, which became part of the new Intesa Sanpaolo SpA this month. (Bloomberg)
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