Parmalat Spotlight Shines on BofA
- Former B of A Exec Is Arrested in Italy. // American Banker;8/3/2005, Vol. 170 Issue 148, p20
Reports that Italian police arrested Luca Sala, the former managing director of Bank of America Corp.'s Milan branch. How Sala is under investigation in connection with the fraudulent bankruptcy of Parmalat Finanziaria SpA; Allegations that Sala siphoned money from Parmalat accounts.
- B of A Role in Jump Of Parmalat Shares. // American Banker;4/27/2004, Vol. 169 Issue 80, p18
Reports on the scandal surrounding Parmalat Finanziaria SpA and Bank of America Corp. Indication that court documents and testimony implicate a bank official, Luca Sala, who helped draft a press release that drove up shares of Parmalat in 1999; Details of a deal which involved private debt...
- Parmalat Nourishes Market with $100M. J.L. // Private Placement Letter;8/13/2001, Vol. 19 Issue 32, p3
Reports on the private placement deal between Banc of America Corp. and Parmalat SpA. Structure of the deal; Price of the deal; Profile of Parmalat.
- B of A Comes Up in Probe of Parmalat. // American Banker;1/12/2004, Vol. 169 Issue 7, p20
Reports that Italian police searched Bank of America Corp. in Milan, according to news agency Radiocor. Connection of the bank with an investigation of the bankrupt dairy company, Parmalat Finanziaria SpA; Details of the case and Parmalat's failure to account for $10 billion in funds on its...
- B of A Settles for $100M with Parmalat. // American Banker;7/29/2009, Vol. 174 Issue 144, p16
The article reports that Bank of America Corp. (BOA) will pay $100 million to settle charges that it helped former officials of Italian firm Parmalat SpA perpetrate a fraud that led to Parmalat's bankruptcy in 2003. Wrongdoing by top Parmalat executives over a ten-year interval left the firm...
- Parmalat Probe Adds B of A Branch Officer. // American Banker;3/4/2004, Vol. 169 Issue 43, p2
Reports that the Milan branch manager of Bank of America Corp., Eros Francini, is one of three executives under investigation in Italy. Names of the other Milan executives; Question of how much the Bank of America knew about the financial position of Parmalat Finanziaria SpA, which went bankrupt.
- Parmalat No Threat to B of A Rating. Boraks, David // American Banker;12/23/2003, Vol. 168 Issue 245, p20
Standard & Poor's Ratings Service said that Bank of America Corp. could face losses from on-and off-balance-sheet financing provided to Parmalat Finanziaria SpA but the Italian food giant's problems will not affect the company's credit ratings, as of December 23, 2003. Parmalat is at the center...
- Buzz Box. // Private Placement Letter;9/30/2002, Vol. 20 Issue 38, p1
Reports developments related to private placement in the U.S. as of September 2002. Equipment distribution deal between Bank of America and Ring Power Corp.; Postponement of Eurobond issue by Parmalat SpA.
- B of A Cites $450M Loss from Parmalat. Davis, Paul // American Banker;6/26/2007, Vol. 172 Issue 122, p2
The article reports that Bank of America Corp. has reported losses from its dealings with dairy company Parmalat SpA. Parmalat filed for bankruptcy in December of 2003. Bank of America has been charged with allowing employees to misrepresent the financial state of Parmalat. Technical consultants...