Judge Wants Parmalat, Banks to Settle
A US district court judge in New York is giving Parmalat, an Italian company, until December 31 to negotiate a settlement with Citigroup, Bank of America, Deloitte & Touche and Grant Thorton in a dispute over accounting fraud. Parmalat declared bankruptcy in 2003 after declaring they had discovered a huge discrepancy in their books. They have sued their former banks and auditors, and have been countersued for alleg Parmalat also has several cases pending in Italy With the increase of globalization, transnational litigation will only increase, so it is always interesting to me to see how these cases are dealt with. If you would like to read more, check out the story here.