Italian food group Parmalat has settled two more lawsuits it launched in the wake of its bankruptcy for years ago.

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The company stands to receive just under EUR23.4m (US$33.2m) from two European banks, it announced yesterday (27 September).


Swiss bank Graubuendner Kantonalbank has agreed to pay Parmalat EUR20.75m in an out-of-court settlement with the company.


Meanwhile, investment bank Calyon has agreed to pay the company some EUR2.63m.


Parmalat has secured a number of out-of-court settlements in recent months, deals that boosted the company’s earnings during the first half of the year.

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The company booked operating profit of EUR283.6m (US$393m) for the first six months of the year, up from EUR87m a year earlier. By comparison, revenue inched up 2.8% to EUR1.8bn.

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