Global dairy group Parmalat agreed to hold its first formal meeting with creditors on Friday in Milan, a lawyer for the largest creditor group said.

Evan Flaschen, a Bingham McCutchen bankruptcy attorney who represents holders of some $6 billion in Parmalat bank and bond debt, said the meeting would be held in Milan at 8.30 a.m. (1330 GMT).

Mr Flaschen said he expects representatives of some 30 to 40 creditor groups to attend Parmalat's meeting.

Creditors of the insolvent food company, which is based in Parma, Italy, have complained about what they said was a lack of consultation on Parmalat's restructuring plan being formulated by the company's bankruptcy administrator Enrico Bondi.

Under Italian bankruptcy law, unsecured creditors have little say in any restructuring plan, in contrast to US bankruptcy law which gives creditors broad say in any plan of reorganisation.

The creditors group, which has 19 international banks including Citigroup, last week sent a letter to Mr Bondi saying it planned to hold a meeting in Milan at the end of March to "discuss the situation".

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