Asia News

ANZ wins almost US$300mn in damages over commodity finance fraud

Australian bank ANZ has been awarded more than US$293.6mn in damages against two Hong Kong metal traders that supplied it with forged warehouse receipts …

Asia / 20-01-23 / by Jacob Atkins

Agritrade executive jailed for 20 years for role in fraud scandal

Singapore authorities have sentenced Agritrade’s former chief financial officer to 20 years’ imprisonment for her role in a fraud scandal that resulted in bank …

Asia / 18-01-23 / by John Basquill

Warehouse receipt fraud: Singapore firm can’t trim US$282mn damages ruling

A UK appeals court has dismissed an attempt by financial services group Straits Singapore to shave off part of a US$282mn damages order arising …

Asia / 22-12-22 / by Jacob Atkins

EKF, commercial lenders help Australia’s largest-ever wind farm to financial close

Denmark’s export credit agency EKF and the Australian Clean Energy Finance Corporation (CEFC) are among a syndicate of lenders to the first stage of …

Asia / 06-12-22 / by Jacob Atkins

Bank of Georgia, ADB sign supply chain finance deal

The Asian Development Bank (ADB) has agreed to share half the risk of the Bank of Georgia’s supply chain finance transactions, with the aim …

Asia / 30-11-22 / by Jacob Atkins

JP Morgan vindicated in trade finance sanctions lawsuit

Singapore’s High Court has sided with JP Morgan after the bank was sued for refusing to pay a coal trader under a letter of …

Asia / 07-11-22 / by Jacob Atkins

Analysis: Banks face trickier fights against shipowners to recover commodities losses

Singapore’s High Court has this year scuppered the plans of both Standard Chartered and the Overseas Chinese Banking Corporation (OCBC) to quickly recoup trade …

Asia / 01-11-22 / by Jacob Atkins

UniCredit loses US$37mn fraud claim against Glencore

A judge in Singapore has rejected claims by Italian lender UniCredit that commodities giant Glencore helped defraud it of US$37mn as part of a …

Asia / 26-10-22 / by Jacob Atkins

Mercuria upsizes three-year samurai term loan

Global commodities trader Mercuria has secured a ¥70.5bn (US$488mn) samurai term loan facility from a syndicate of 23 banks. The new facility replaces a …

Asia / 05-10-22 / by Jacob Atkins

Setback for Standard Chartered in Hin Leong oil mis-delivery case

A court in Singapore has dashed Standard Chartered’s hopes of a quick legal victory in its claim against shipping giant Maersk over a US$6.1mn …

Asia / 28-09-22 / by Jacob Atkins