Parmalat has been excluded from the group of plaintiffs in the criminal trial of various banks – including Citigroup , UBS, Deutsche Bank and Bank of America – in relation to its financial collapse in 2003.
The judge overseeing the proceedings in Milan said Parmalat CEO Enrico Bondi, who is representing the group, could not be included as a plaintiff in the trial for market manipulation.
However, the Italian dairy giant told just-food today (21 April) that the ruling will not prevent it from seeking further damages. A spokesperson for the company said that it would still pursue financial recompense, as this falls under the jurisdiction of a separate trial taking place elsewhere.
“We are still actively pursuing damages from the parties involved in this case,” the spokesperson said.
Parmalat has already successfully sued several banks in connection with its 2003 bankruptcy.