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Citibank N.A. – Proceedings to make the Decision of the Superior Court of New Jersey Enforceable


Regarding the statements set forth in Sections A.11 and B.2.6 of the information memorandum concerning the procedure promoted by Sofil S.a.s. to comply with the obligation to purchase the common shares of Parmalat S.p.A., pursuant to Article108, Section 2, of Legislative Decree No. 58/1998, Parmalat announces that there was held today before the Court of Cassation a hearing for oral arguments in the proceedings to void the order issued by the Bologna Court of appeals, which, in August 2014, ruled that “the decision handed down by the Superior Court of New Jersey on October 27, 2008 was enforceable in Italian Republic,” awarding to Citibank N.A. the sum of 431,318,828.84 USD (364,228,023 USD in principal and 67,090,801.84 in interest).

In the course of the hearing, the Reporting Judge presented the case, the Solicitor General recommended that the appeal filed by Parmalat S.p.A. be denied and the Parties presented their arguments. Upon the conclusion of the hearing, the Court reserved the right to rule on this matter.

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