Sanlu, company in China milk scandal, declared bankrupt - The China Post - The Diigo Meta page

• 04 Apr 09
  

  Tai Tran
  • 300,000
  • neither accepted nor refused the cases - a sign of the scandal's political sensitivity
  • 6 more annotations...
  • • parents whose children were sickened from drinking infant formula authorities had certified as safe
    • By now, it has been made clear how much Sanlu owes the distributors and creditors, but not the victims' families
    • "In theory, those who were physically harmed should get compensation first," Xu said. "But our concern right now is that ... the creditor bank or banks will collude with the local government to make Sanlu's assets go to compensating themselves first."
    • Worried about being left out, nearly a thousand distributors across the country turned up in the city of Shijiazhuang on Tuesday hoping to have Sanlu certify its debts with them
    • Repeated calls to the Shijiangzhuang People's Intermediate Court rang unanswered Wednesday
    • Fonterra, which controls more than 95 percent of New Zealand's milk supply, is the country's largest multinational business, its second-biggest foreign currency earner and accounts for more than 24 percent of the nation's exports.

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