Parmalat Creditor Lawyers Say $7.7 Billion Assets Located
"MILAN -(Dow Jones)- Three lawyers representing Parmalat bondholders and shareholders plan to file a document contesting Parmalat Finanziaria SpA's (PRF.MI, news) insolvency on the grounds a private investigator has located $7.7 billion in assets allegedly missing from its accounts.
A document shown to media by the lawyers, who said they represent hundreds of Parmalat bondholders and shareholders, said an unnamed private investigator discovered $7.03 billion in Parmalat assets being held by Bank of America Corp. (BAC, news), as well as $510 million extracted from the Epicurum Fund. . .
This evidence wouldn't be admissable in a fraud-related criminal trial because it was based on electronic transaction records, rather than original documents or transcripts, he said."
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