Oct 5 - Parmalat S.p.A. announces that on October 2d, 2009 the settlement with Bank of America was completed with the payment by the Bank of the agreed upon consideration.
As was communicated earlier (see Parmalat press release of July 28, 2009), the settlement was entered into on July 28, 2009 subject to the approval of a contribution bar order by the federal district court of the Southern District of New York. The order was granted on September 22/23, 2009.
As of July 28, 2009, all litigation between Parmalat and Bank of America, acting directly or through their subsidiaries and affiliates, has been discontinued.