French dairy giant Lactalis has
run Parmalat worse than former boss Calisto Tanzi who presided
over Europe's biggest corporate bankruptcy, the representative
of the Amber investment fund told a shareholders' meeting
Friday. "Looking at what happened over the last four and a half
years, we believe, with exclusive reference to corporate
governance and with all due proportions, Parmalat's current
situation can be considered as even worse than the Tanzi era,"
said Arturo Albano, contesting. along with the representatives
of other funds, a clampdown on minority shareholders' rights.
Two years ago Italy's top court confirmed 15 convictions in
connection with the collapse in 2003 of food group Parmalat.
The court trimmed five months off the 18-year sentence of
founder and former chief executive Tanzi, who was originally
convicted for the fraudulent bankruptcy that led to Parmalat's
collapse. Parmalat has been a subsidiary of Lactalis since 2011.
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