Bank of America in challenge to Bondi

Bank of America and Parmalat’s Irish subsidiary Eurofood is attempting to oust special administrator Enrico Bondi with an attack on the legality of his appointment in the Italian Administrative Tribunal.

The move follows the lead of two French construction companies, Soc Moderne Des Terrassements Parisiens and Soc Solotrat, which filed similar actions last month.

“Eurofood and the other parties have challenged the grounds on which Bondi was appointed,” said Lovells partner Paolo Criscione, who is acting for Eurofood.

The attack by Bank of America and Eurofood relates to the ongoing battle with Bondi over which jurisdiction should handle Eurofood’s liquidation (The Lawyer, 8 March). A ruling in the court of Parma has found that Bondi should handle the liquidation, while the High Court in Dublin ruled that it should be handled in Ireland.

Both decisions are now being appealed by the opposing parties, with the appeal against the Italian decision to be heard on 31 May by the Court of Appeal in Bologna.

It may be that eventually the European Court of Justice (ECJ) has the final say in the matter. If the case reaches the Court of Last Instance in either jurisdiction, then that court will be obliged to ask the ECJ for an interpretation of the law.

The appeal courts may also ask for an interpretation if they want it.
Criscione was brought in by Matheson Ormsby Prentice, which is advising Irish liquidators Farrell Grant Sparks.

Studio Legale Chiomenti partner Giorgi Capelli is advising Bank of America on the tribunal hearing.

The hearings in the tribunal are set for 20 June.