Ericsson teaches Anil Ambani and India's nascent bankruptcy system a lesson

In recovering $80 million from tycoon Anil Ambani, the Swedish company's lawyers played the nascent bankruptcy system expertly

Anil Ambani’s not going to jail after all, and Ericsson AB got its money. The Swedish company’s lawyers should take a bow.

While the future of the Indian tycoon’s shrinking empire remains shrouded in uncertainty, at least questions over his near-term living arrangements got answered on Monday. Ambani thanked his “respected” elder brother, Mukesh, and sister-in-law, Nita, after avoiding a three-month prison term. India’s richest man showed up just in time to help his younger sibling who has, in a little over a decade, lost 99 percent of his $31 billion net worth.

The local unit of Ericsson had accepted a Rs