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Banca Intesa communicates that the Extraordinary Commissioner of the Parmalat Group has filed a payment claim for damages against Cassa di Risparmio di Parma e Piacenza, a Banca Intesa subsidiary, for alleged participation in the worsening of the Parmalat Group’s distressed finances, for an amount not inferior to €700 million corresponding to the total advances on cash orders granted to Parmalat between 31st December 1999 and Parmalat’s declaration of insolvency.
Gruppo Intesa refuses the claim as totally groundless and is certain that the judicial authorities will reject Parmalat’s request, thus acknowledging absolute fairness and legitimacy in the behaviour of Cassa di Risparmio di Parma e Piacenza.
Therefore, Gruppo Intesa believes that neither its income statement nor its balance sheet will be affected by this action for damages on which the Group is not planning to set aside any provision.
