BofA’s Counterclaim Against Parmalat OKd
From the Associated Press
A New York federal judge is allowing Bank of America Corp. to proceed with a counterclaim in the $10-billion lawsuit filed against it by Italian dairy giant Parmalat.
The ruling by U.S. District Judge Lewis A. Kaplan allows the Charlotte, N.C.-based bank to press a loan-related claim for more than $1 billion in damages against Parmalat and its administrator, Enrico Bondi, the turnaround expert appointed by the Italian government to oversee the company in bankruptcy protection.
