Italian Football Federation (FIGC) president Demetrio Albertini has been appointed to oversee and assist the work of the current two accountants handling the bankruptcy of Parma.

Serie A's bottom side were declared bankrupt by an Italian court on March 19 after a hearing lasted just 10 minutes before judge Pietro Rogato declared the 101-year old club insolvent.

Last month's ruling was not heard by Parma owner and president Giampietro Manenti, who was arrested a day earlier on charges of money laundering and embezzlement.

Parma, as stated at the March 19 hearing, have a debt of €218 million.

Local accountants Alberto Guoiotto and Angelo Anedda were appointed by the court to oversee the bankruptcy proceedings and -- on Wednesday -- judge Pietro Rogato handed Albertini the responsibility of working with the club to get their finances in order.

A statement on Parma's official website read: "Albertini will carry out this provisional job to assist the accountants in relation to the players and staff at Parma Calcio.

"He will support the activities of Angelo Anedda and Alberto Guoiotto in negotiations designed to restructure the debt [at the club] and the operating costs of its management.

"The considerable experience, as well as established relationships with current leaders of the main institutions of national and international football, will enable Albertini to support the accountants with regard to [negotiations with the] Italian Footballers' Association, the Football League and FIGC in finding the best solution to restructure the debt at Sports Parma FC."

Parma president Giampietro Manenti was one of 22 people arrested. Valerio Pennicino/Getty Images

Manenti became Parma's new owner in February after promising to pay off the club's debts, but he failed to provide the capital that was needed to keep them afloat.

Parma's players and staff have not been paid since July and the club's lack of finance led to two of their Serie A games being postponed in February.

Last time out Parma hosted Torino in a match that ended with a 2-0 defeat at the Stadio Ennio Tardini, with the Serie A and the FIGC having already set up a plan for the Gialloblu outfit to be able to finish the season.

The Ducale club finished sixth in the 2013-14 campaign but missed out on Europa League football after failing to meet UEFA's club licensing criteria due to unpaid bills.

Parma, who have recorded just one league win so far in 2015 and travel to Inter Milan on Saturday 12 points adrift at the bottom of the table.

Following Parma's bankruptcy, the FIGC has toughened licensing rules in an attempt to avoid a repeat of the situation.