Word: calisto
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...after the gun battle began, the Australians-for reasons as yet unknown-stopped firing and pulled back, allowing Reinado and his surviving men to escape through the thick rainforest on the western side of the hill. Behind them they left the bodies of Barros, Natalino Pereira, Maranes Henrique and Calisto Tilman. The body of a fifth, unidentified man was found two days after the raid, but it was unclear whether he had died of wounds or exposure. Galucho's younger brother Nikson, a former military policeman who deserted with Reinado and was reportedly devoted to him, was shot...
...accounts. So over the summer, Ferraris asked two members of his staff to investigate discreetly. They came back several weeks later with a total debt estimate of ?14 billion, or $18.2 billion--more than double the amount shown on the balance sheet. Ferraris went to see Calisto Tanzi, the Parmalat founder and chief executive, whom he viewed as "an excellent person, a real entrepreneur," a charismatic but steady leader who was so proficient at mathematics that he spotted calculation errors in presentations. "I expected him to say, 'Your numbers are wrong,'" Ferraris recalls. "Instead, he said, 'Eight billion...
...Australia. But in late February the company stock had nosedived when the firm's irascible CFO, Fausto Tonna, announced an unexpected new bond issue - a fresh increase in corporate debt - that came on the heels of several other big capital-raising moves. Parmalat's founder and lifetime CEO, Calisto Tanzi, called back the bonds the following day and replaced Tonna with Ferraris to calm the waters. Within a few days, the thickset new CFO was defending his company before a roomful of financial analysts in Milan. He painted a rosy picture: sales and earnings were up, debt was under control...
...that if the international banks are cut out as creditors, they could make life very tough for the company when it emerges from bankruptcy next year," says one person close to the U.S. banks. FUNDING THE "BLACK HOLE" Alberto Ferraris wasn't the only one who thought highly of Calisto Tanzi. Until Parmalat collapsed, the 66-year-old founder was an almost legendary figure in Italy, viewed as a classic entrepreneur who built a world-class company from scratch. Soon after founding Parmalat as a dairy company in 1961, he was quick to embrace a new pasteurization technology that allowed...
...this month he filed suit in Parma's court against the two banks, claiming that both transactions were illegal under Italian bankruptcy law and should be revoked. Last month he filed suit in New Jersey against Citigroup, alleging that the American bank helped Parmalat's founder, Calisto Tanzi, and other insiders loot about $8 billion from the firm. Citigroup denies any wrongdoing. Bondi isn't talking, but people close to him say that other suits are likely. Bondi's job is to breathe new life into one of the largest bankrupt companies in corporate history. Why is he spending...