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UPDATE 1-Parmalat appeals BofA, auditor lawsuit dismissals

* Parmalat appeals to U.S. 2nd Circuit Court of Appeals

* Defendants accused of fraud

NEW YORK, Oct 21 (Reuters) - Parmalat SpA PLT.MI has appealed the dismissal of its lawsuits accusing Bank of America Corp BAC.N and auditor Grant Thornton LLP of fraud in the Italian dairy company's 2003 collapse.

On Wednesday, Chief Executive Enrico Bondi filed notice of Parmalat’s appeal, which was expected, to the U.S. Court of Appeals for the Second Circuit in New York.

Bondi and the Parmalat Capital Finance Ltd unit had accused Grant Thornton of helping to set up fake transactions to allow insiders to steal from the company. Parmalat Capital made similar claims in a lawsuit against Bank of America.

But on Sept. 18, U.S. District Judge Lewis Kaplan said Parmalat should not recover for its own fraud, noting that the transactions also generated millions of euros for the company, known for its long-life milk.

“The actions of its agents in so doing were in furtherance of the company’s interests even if some of the agents intended at the time they assisted in raising the money to steal some of it,” Kaplan wrote.

Burdened by about 14 billion euros ($21 billion) of debt, Parmalat filed for insolvency protection in Italy in December 2003. It collapsed after uncovering a 4 billion euro ($6 billion) hole in its balance sheet. Parmalat was restructured and relisted on the Milan bourse in 2005.

Bondi has through his lawsuits recovered several hundred million dollars for Parmalat, including $100 million from Bank of America in another part of the litigation.

The case is In re Parmalat Securities Litigation, U.S. District Court, Southern District of New York, No. 04-1653. (1 euro = $1.50) (Reporting by Jonathan Stempel)

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