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Singapore Court Appoints KPMG to Manage Trader Radiant World
Source: Bloomberg
Legal & LitigationM&A & RestructuringCommodities & Raw MaterialsCredit & Bond Markets
A Singapore court appointed KPMG restructuring executives to take control of iron ore trader Radiant World after creditor Mizuho Bank secured the order. Mizuho has alleged fraud involving the company's iron ore receivables, creating significant credit, counterparty and restructuring risk for the trader and its lenders.
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