Bank of America - Parmalat SpA sued Bank of America for $10 billion
Time: Jul, 2009
Place: Collecchio, Italy
Details: Parmalat SpA is a multinational Italian dairy and food corporation. Following Parmalat's 2003 bankruptcy, the company sued Bank of America for $10 billion, alleging the bank profited from its knowledge of Parmalat's financial difficulties. The parties announced a settlement in July 2009, resulting in Bank of America paying Parmalat $98.5 million in October 2009.
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