Sanlu Group, involved in the tainted milk scandal, has been declared bankrupt by a court in the city of Shijiazhuang in Hebei province, reported by Bloomberg. A receiver will take over management of the company and has six months to sell its assets and pay creditors, Auckland-based Fonterra said on Wednesday. Fonterra has 43% of a venture with Sanlu and has written off the 113 million USD investment.