ABN Amro Bank N v. v. Parmalat Finanziara S.P.A. (In Re Parmalat Finanziara S.P.A.)

MEMORANDUM AND ORDER

P. KEVIN CASTEL, District Judge.

ABN AMRO Bank N.V. (“ABN”) is the holder of a promissory note in the principal amount of $9,999,999.91 guaranteed by Parmalat S.p.A. When the note remained unpaid at maturity, ABN commenced a state court proceeding in New York against Parmalat S.p.A., as guarantor. Prior to the institution of the state court proceeding, Parmalat Finanziaria S.p.A. and Parmalat S.p.A. (collectively, “Parma-lat”) filed insolvency proceedings in Par-ma, Italy. Parmalat commenced proceedings in the United States Bankruptcy Court for this District and obtained an…