Parmalat is a multinational Italian dairy and food corporation.

Having become the leading global company in the production of ultra high temperature (UHT) milk, the company collapsed in 2003 with a €14 billion ($20bn; £13bn) hole in its accounts in what remains Europe's biggest bankruptcy. Today, Parmalat is a company with a global presence, having major operations in Europe, Latin America, North America, Australia, China and South Africa. Since 2011, it is a subsidiary of French group Lactalis.

7/28/12

7/28/12 .

• How Parmalat Went Sour  Here's the skinny on Europe's enormous What triggered the financial financial scandal  crisis? How did the company misplace $4.9 billion? Who is under investigation? What role did derivatives and other financial instruments play? 7/28/12 • • • .

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