Deloitte & Touche has to start paying Parmalat settlement this week UPDATE |
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Published
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Wed, 21 Feb 2007 12:01
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(updates with further details)MILAN (AFX) - Parmalat SpA said that the auditors Deloitte & Touche LLP have to pay by Friday an initial payment of a 149 mln usd settlement reached in January.The settlement also includes Dianthus SpA, the firm that operated under the Deloitte & Touche name in Italy until July 2003.A source close to Parmalat confirmed Deloitte & Touche will pay a first instalment of 130 mln usd this week.Parmalat reached an out of court agreement in January with Deloitte & Touche over the accountancy firm's role in the collapse of the food company in Dec 2003.A US judge will now have to decide how much the other debtors -- Grant Thornton, Citigroup and Bank of America -- will have to pay, out of the total 13.2 bln eur in damages that Parmalat is claiming.yael.schrage@thomson.comnt/cmrCOPYRIGHTCopyright AFX News Limited 2006. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Deloitte & Touche has to start paying Parmalat settlement this week 