TITLE

Parmalat Vote Nears: Creditors Cry "Foul"

AUTHOR(S)
O'Connor, Colleen Marie
PUB. DATE
June 2005
SOURCE
Investment Dealers' Digest;6/6/2005, Vol. 72 Issue 22, p7
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
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.
ACCESSION #
17234403

 

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