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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Chinese dairy bankrupt after tainted milk scandal By GILLIAN WONG,Associated Press Writer AP - 56 minutes ago BEIJING - A court has declared bankrupt the dairy at the center of China's deadly tainted milk scandal, one of the firm's owners said _ a development lawyers said adds to concerns about how and when those sickened by the doctored products will be compensated. A court in Shijiazhuang has issued a bankruptcy order against Sanlu Group Co. in response to a petition from a creditor, New Zealand's Fonterra Group said Wednesday. Fonterra owns 43 percent of Sanlu. The official Xinhua News Agency said the court in Hebei province accepted the filing. Xinhua, citing a spokesman for the company, also said Sanlu confirmed its bankruptcy. Phones rang unanswered at the company and the court on Wednesday. Sanlu, like a number of major Chinese dairies, had long been exempt from government inspections because it was deemed to have superior quality controls _ until high levels of the industrial chemical melamine were found in its baby formula and other products earlier this year. Several more dairies were also found to have doctored their goods in a scandal that was blamed for killing six babies and sickening 294,000 children. Thousands of parents _ angered by what they say was the government's breech of their trust _ have been demanding compensation for their sickened and dead children. At least a dozen individual lawsuits have been filed against Sanlu, but they are caught in a legal limbo because courts have neither accepted nor refused the cases _ a sign of the scandal's political sensitivity. A lawyer representing dozens of families with children sickened by tainted milk said that the bankruptcy order raised concerns that his clients might be outmaneuvered by the dairy's creditors. "In theory, those who were physically harmed should get compensation first," Beijing-based lawyer Xu Zhiyong said in a telephone interview. "But our concern right now is that they might act in a brazen way, namely that the creditor bank or banks will collude with the local government to make Sanlu's assets go to compensating themselves first." According to Chinese bankruptcy law, a company's liquidated assets are distributed first to employees who are owed salaries or insurance payments, then to pay off taxes, and finally to "common creditors." Another lawyer, Li Fangping, said that since the government has not yet specified the amount that victims should receive, families of sickened children must seek legal orders to be declared "creditors" eligible for pay-outs. "Unless the government issues a regulation for compensation, the families have to go to court to ask for compensation," Li said. The Health Ministry has yet to announce a compensation plan but said earlier this month that officials were finalizing details and that the dairy companies involved would be expected to contribute. ___ Associated Press writer Ray Lilley in Wellington, New Zealand, and Associated Press researcher Yu Bing in Beijing contributed to this report. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy Chinese dairy bankrupt after tainted milk scandalAP - 56 minutes ago US sees progress in easing trade disputes with ChinaAFP - Thursday, December 25 Vietnam economy grows 6.23 pct in 2008, below targetAFP - Thursday, December 25 Cuba says GDP rose 4.3 percent in 2008AP - Thursday, December 25 Related Articles: Business Japan's Nikkei up 0.2 pct after Wall St gainsReuters - 53 minutes ago China Eastern Air says aid plan to be adjustedReuters - 55 minutes ago Chinese dairy bankrupt after tainted milk scandalAP - 56 minutes ago FEATURE-Luxury brands still a tough sell in wealthier IndiaReuters - 58 minutes ago Japan Nov corporate service prices -1.9 pct yr/yrReuters - 1 hour 3 minutes ago Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed US sees no holiday cheer; Russia, China warn of grim 2009 Housing market feels more pain, bottom not yet in sight French investor takes life after massive losses in Madoff scandal Quake zone hero pig named China's animal of the year Actress Jennifer Aniston appears naked in GQ magazine View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular

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