Ten years after its spectacular collapse in an accounting scandal, reborn Italian dairy firm Parmalat is still struggling to free itself from legal disputes that are clouding both its prospects and those of its new French owner, Reuters reported yesterday. In March, a local court put Parmalat under the oversight of a special commissioner as part of an investigation into its purchase of a business from its majority owner Lactalis—a deal that helped Lactalis to cut its debt, but which some minority investors say was overpriced and makes little strategic sense. Parmalat may also have to fork out millions of euros to retain ownership of a Rome-based dairy firm it acquired in 1998, after a Roman court declared the purchase invalid. That ruling forced Parmalat to take hefty provisions, slash its dividend and push back the approval of its 2012 accounts to Friday—when minority investors are expected to vent their displeasure at a shareholder meeting.
