…while Mathesons advises on Irish branch

Matheson Ormsby Prentice has been drafted in to advise the provisional liquidators looking at Parmalat’s Irish subsidiary, Eurofood IFSC.

The Dublin-based subsidiary’s main corporate law firm was McCann FitzGerald, and one of the firm’s partners, Ambrose Loughlin, was a non-executive director of the company.

The company was audited by the Dublin office of Grant Thornton.

However, accountants Farrell Grant Sparks, appointed by Bank of America, has called on Mathesons partner Tom O’Grady to advise on the provisional liquidation.

Eurofood provided financing for several Parmalat subsidiaries since its inception in 1998. Its two Italian directors, Fausto Tonna and Luciano Del Soldato, have already been arrested in relation to the scandal.

The petition to appoint the full liquidator is to be heard on 23 February.

A spokesperson for Bank of America confirmed that its employee had been on the company’s board as part of her duties at the bank, rather than it being something she did in her own time.

Neither Loughlin nor McCann FitzGerald returned calls for comment.

A spokesperson for Grant Thornton confirmed that it was the auditor, but declined to comment further on client matters.