Parmalat Vote Nears: Creditors Cry "Foul"

O'Connor, Colleen Marie
June 2005
Investment Dealers' Digest;6/6/2005, Vol. 72 Issue 22, p7
Trade Publication
The article focuses on an accounting scandal involving Italian dairy company Parmolat Finonziaria SpA. In the next few weeks, creditors and the Italian overseers of Parmalat's bailout are expected to vote on insolvency proceedings. Approval of the restructuring plan will trigger a new listing on the Milan Stock Exchange. Parmalat collapsed in December 2003. For some foreign creditors, equity in a newly refashioned Parmalat may not be as attractive as the potential recovery of principal achieved through asset sales.


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