Parmalat says bank has no record of €3.95 billion

New York, Dec. 19 - Parmalat Finanziaria SpA said that its bank has no record of an account for a financing subsidiary in the Cayman Islands and denied the authenticity of a letter certifying the existence of €3.95 billion of securities and liquidity.

In a news release, the Milan food company said the Bank of America NA, New York Branch told Grant Thornton, the auditor of Bonlat Financing Corp. that it does not have "an account" in the name of Bonlat. Bonlat is a Cayman Islands company that is part of the Parmalat group.

Bank of America denied the authenticity of a document dated March 6, 2003 certifying the existence of €3.95 billion of securities and liquidity relating to Bonlat. The document was used as the basis for the certification of Bonlat's 2002 accounts, Parmalat said.

Parmalat added that it has requested the "necessary urgent verifications."

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