Parmalat, the collapsed Italian food group, is likely to receive millions of dollars – not the billions it is seeking – from US investment banks after a court ruling, said lawyers.

Enrico Bondi, special administrator for Parmalat, has sued about 50 banks, including Bank of America and Citigroup, over Parmalat's collapse in addition to Deloitte & Touche and Grant Thornton, Parmalat's former auditors, for a total of $10bn (€8.1bn). This is the estimated damage to the company.

Shanny Basar in New York

Bank of America

JP Morgan

Unicredit

Citigroup

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Parmalat claim dented by US court ruling

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