When the multi-billion-euro fraud scandal at Italian food giant Parmalat was unearthed in May 2003, not many observers envisaged the fallout would envelop the legal profession – for both the right and the wrong reasons.

The controversy exploded after an €8bn (£5.5bn) black hole was discovered in Parmalat’s accounts, creating an array of problems for the company as it faced massive restructuring, and the prospect of negotiating a legal minefield.