Former Schlecker drugstore owner sentenced over insolvency – Deutsche Welle

A court in the western German city of Stuttgart has sentenced the 73-old former drugstore tycoon to two years probation, finding him guilty on 36 counts of embezzlement, perjury and other misdeeds in the lead-up to the eponymous firm’s bankruptcy. The judge on Monday also imposed two-year prison terms on his children, Lars and Meike. The trial started in…

Clients of failed fund group may claw back more cash – Citywire.co.uk

Investors knowingly misold worthless bonds may be able to claw back more of their cash from administrators, following an initial compensation payout. The Financial Service Compensation Scheme said the administrator of Catalyst Investment Group, which was declared insolvent in 2013 after being found to have sold illegitimately issued bonds, was preparing to make its first…

Mahindra Defence, Shapoorji Pallonji may bid for troubled Bharati Defence – Economic Times

MUMBAI: Mahindra Defence and Shapoorji Pallonji Group may independently bid for the troubled Bharati Defence and Infrastructure (formerly Bharati Shipyard) in the first such bankruptcy resolution attempt under the Insolvency and Bankruptcy Code for the security industry. The two companies are currently evaluating the deal that values the target company at $350 million, said three…