Deloitte & Touche SpA and Dianthus Spa, representing an Italian branch of the international accounting firm, Deloitte & Touche have agreed to pay Parmalat $149 million as compensation for D&T's role in the dairy giant's $8 billion accounting fraud. The firms served as auditors for Parmalat prior to the company's collapse.

This is only one of many such settlements with financial institutions that Parmalat has pursued as the company has attempted to crawl out from under scandal and $18 billion in debt on which it had defaulted. Parmalat has a similar suits still pending against several financial institutions including, notably, Grant Thornton and Bankf of America.

-- MDT

Labels: Deloitte, Dianthus, Grant Thornton, Parmalat