MILAN (Thomson Financial) - A New Jersey court judgement on Parmalat SpA's
$2.2 billion's claim against Citigroup over the dairy group's 2003 collapse may
slip to September, from the scheduled July, said analysts.
Reports say that a New Jersey supreme court is due to rule shortly on
Parmalat's request to introduce new evidence, documents already accepted by
Italian courts in Parmalat litigation.
"The only thing I know for sure is that within this week the judge (in the
main hearing) can give an update once the supreme court decides on the new
documents," said an analyst who follows Parmalat.
"It is quite probable that the outcome of the trial will be postponed for a
few weeks and will end in September," he said.
Another industry source said the civil court jury trial is "a bit behind"
schedule and the judgement could slip to September, also because the court will
close in August for holidays.
Citigroup is defending its conduct before Parmalat's collapse and is
counterclaiming for $699 million for losses it says it suffered.
Parmalat relisted in October 2005 after a financial restructuring.
nigel.tutt@thomsonreuters.com
nt/jfr
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