Italian dairy group Parmalat has settled claims with three banks for €72 million ($96.5 million) related to its 2003 collapse under massive debt.
Parmalat, which has since restructured and relisted on the Milan bourse, said today it had settled all outstanding damage claims with Merrill Lynch for €29 million.
It said it had also settled revocatory claims for €35 million with Italy's Banca Monte Parma and €8 million with ING of the Netherlands.
Monte Parma had "further undertaken to forgo the right to file claims with the Parmalat bankruptcy court for a value equivalent to that returned in settlement of the recovatory action," it said.
Parmalat is suing a number of other banks as a result of its collapse when it discovered a multi-billion euro hole on its books.
Earlier today, Parmalat shares were up 1.9 per cent at €3.21.