Feb. 11 (Bloomberg) -- Credito Emiliano SpA will pay 10 million euros ($12.8 million) to settle claims brought by Parmalat SpA over the lender’s role in financing the dairy company before it collapsed in Italy’s biggest bankruptcy, according to a stock-exchange statement today.

Reggio Emilia, Italy-based Credito Emiliano will make the payment to Parmalat in exchange for the dairy company abandoning a current or future “action to void,” according to the statement.

As part of the settlement, the bank agreed to waive its right to receive compensation for losses from companies included in the Parmalat bankruptcy procedure.

Parmalat Chief Executive Officer Enrico Bondi has recovered more than 2 billion euros from dozens of Italian and international banks after seeking damages or attempting to “claw back” financing through claims the lenders helped Parmalat’s former managers hide the true state of the company’s finances.

Bondi has said banks should have spotted the irregularities that allowed Parmalat to hide billions of euros of losses from the public before its collapse in December 2003.

Deutsche Bank AG, Unione di Banche Italiane SCPA, Banca Popolare di Vicenza and Banca Popolare dell’Emilia Romagna Scrl on Feb. 6 agreed to pay more than 102 million euros to settle claims over the lenders’ role in financing Parmalat.

To contact the reporter on this story: Sara Gay Forden in Milan at sforden@bloomberg.net

Last Updated: February 11, 2009 13:06 EST