Parma's bankruptcy hearing may be postponed now that President Giampietro Manenti has been arrested, leaving the club in financial paralysis.

The Ducali have not paid any of their players or their employees in more than eight months now as the club is crushed under the weight of an estimated €96m worth of debts.

A tribunal hearing had been set for tomorrow, March 19, in which the club would have had to present evidence of a sustainable recovery plan or else declare bankruptcy.

Parma's bankruptcy hearing may be postponed now that President Giampietro Manenti has been arrested, leaving the club in financial paralysis.

The Ducali have not paid any of their players or their employees in more than eight months now as the club is crushed under the weight of an estimated €96m worth of debts.

A tribunal hearing had been set for tomorrow, March 19, in which the club would have had to present evidence of a sustainable recovery plan or else declare bankruptcy.

However it seems that the legal wrangling may be drawn out further as this morning's arrest of the President – charged with embezzlement and money laundering – necessarily alters the procedure.

As reported by La Repubblica, Manenti's absence would compel the tribunal to defer the hearing until he becomes available or until a delegate is assigned.

This would leave Parma in the condition of having to continue the championship with no funds, as Lega Serie A only guaranteed financial support in the case of bankruptcy.

Alternatively, Manenti may declare that he chooses to opt out of the hearing altogether, in which case the bankruptcy procedure could go ahead without him.

However the last option would clash with his repeated statements, prior to his arrest, that he has a recovery plan ready to go and the funds to sustain it.

Bygaby

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