A selected summary of Southern California-related business litigation developments during the past week.

Former Executive of Grand Wilshire Sentenced: Bruce Li, 32, of Chino, former executive vice president and chief financial officer of Grand Wilshire Group of Cos. of Glendora, was sentenced to 5 1/2 years in prison and fined $150,000 for fraud. Li pleaded guilty in June, 1990, to various intricate schemes from 1985 through August, 1988, to defraud GWG lenders of $70 million and lenders of $50 million. Other lenders victimized included Crocker National Bank, Union Bank, Imperial Savings Assn., First Los Angeles Bank, Heller Financial and General Electric Capital Corp. GWG, the third-largest car dealership in the country before its collapse in August, 1988, was headed by Eminiano Reodica, who disappeared in July, 1988. Nine other former employees of GWG have been convicted, and others are expected to be charged. (Case No. 90- 440. Sentencing Feb. 20)