Financial Times FT.com

Parmalat issues €17m suit against Deutsche

By Fred Kapner in Milan

Published: August 9 2004 21:02 | Last updated: August 9 2004 21:02

Enrico Bondi, Parmalat's government-appointed administrator, on Monday intensified his fight against the world's biggest banks when he sued Deutsche Bank to recover €17m the German lender ordered Parmalat to repay two weeks before it plunged into bankruptcy.

Parmalat claims the bank dictated to a top executive the exact phrasing of the dairy group's letter announcing its repayment of €17m in export credits and overdrafts. This was done to hide the origin of the repayment decision, a person familiar with the suit said.

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