The fraud and negligence suits that a Cayman Islands Parmalat subsidiary and Parmalat’s Italian bankruptcy trustee brought against Grant Thornton seven years ago are still on the ropes—if not down for the count—thanks to a ruling last week by Southern District Judge Lewis A. Kaplan.
Back in January, the U.S. Court of Appeals for the Second Circuit ordered Judge Kaplan to reconsider his refusal to remand the cases back to Illinois state court, where they were originally filed in 2004. Parmalat Capital Finance Ltd. v. Bank of America Corp., 639 F. 3d 572.
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