Lactalis has run Parmalat worse than Tanzi - Amber

(ANSA) - Rome, April 29 - 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.