Bonelli Erede Pappalardo founding partner Sergio Erede has been handed an 18-month suspended sentence for negligence in relation to the collapse of Italian dairy company Parmalat.

Erede is a former board member of the Italian food company that collapsed in 2003, marking Europe's biggest-ever bankruptcy at the time.

Last week's judgment also saw Parmalat's founder and former chief executive Calisto Tanzi convicted of criminal association and fraudulent bankruptcy and sentenced to 18 years in jail.

Executives were also ordered to repay €2bn (£1.7bn) to the new Parmalat, which was re-established in October 2005 and subsequently re-floated on the Milan stock exchange in the same year.

Bonelli managing partner Alberto Saravalle said: "The judgment relates to Mr Erede's position as a board member of Parmalat Finanziaria from which he resigned some two and half years prior to the bankruptcy of the Parmalat Group.

"While all other members of the board have been found guilty of wilful misconduct, Mr Erede has been found responsible for negligence and as such he has been handed a suspended sentence.

"We at Bonelli are supporting Mr Erede and we are very much looking forward to his name being cleared in the appeal process. In the meantime, in relation to Mr Erede's role at the firm, it is business as usual."

Erede is the founding partner of Erede & Associati. The firm merged with Bonelli & Associati and Pappalardo & Associati in 1999 to form Bonelli Erede Pappalardo.