Enrico Bondi, the administrator of Parmalat, is suing JPMorgan and UniCredito for damages, asking for €4.4 billion and starting what could be a new wave of legal actions against banks that he believes helped prolong fraud at the Italian dairy company.
The actions are the first damages claims filed by Mr Bondi in Italy. He has filed damages claims against groups including Citigroup and Bank of America in the US.
He has also filed in Italy a number of claims against banks that seek to unwind transactions they helped arrange for Parmalat.
The Parmalat crisis erupted at the end of 2003 in one of Europe's biggest frauds.
Mr Bondi contends that a host of banks helped prolong the fraud by assisting the company in its financing efforts in the months leading up to its bankruptcy.
Of about €9.5 billion of bond issues in the few years before Parmalat's collapse, Mr Bondi says UniCredito and JPMorgan underwrote half of them, ignoring signs that all was not well at the company.
UniCredito and JP Morgan deny any wrongdoing. JPMorgan said: "To suggest we contributed to or were aware of Parmalat's deceptions is wrong and irresponsible."
Mr Bondi may pursue other banks for damages in Italy. Deutsche Bank and UBS participated in bond issues in the final months before Parmalat's collapse.
No bank has admitted to wrongdoing in relation to Parmalat. Italy's Banca Intesa and Morgan Stanley have both settled with Mr Bondi over allegations of helping to prolong the fraud, paying €215 million between them.
Milan magistrates, who have been investigating the scandal since 2003, last week asked a judge to indict four global banks over their role in the collapse - Citigroup, Morgan Stanley, Deutsche Bank and Swiss bank UBS.
Parmalat itself is moving closer to a relaunch on the Milan stock exchange.
Creditors are currently voting on a proposed swap of debt for equity and a listing could take place in October.