Parmalat accepts reduced claims

Parmalat Finanziaria SpA Chairman Enrico Bondi has proposed honouring 1% of the €1.8bn in debt claims from the Italian food company’s US lenders, including Citigroup Inc and Bank of America Corp.

Bondi, 69, has accepted 43% of €2.3 billion in claims from Italian lenders, the documents show, and almost one quarter of the €1.27bn non-Italian European banks including Deutsche Bank AG claim on money they raised for Parmalat before the company collapsed in December in Italy’s biggest bankruptcy.