Glencore Faces $2 Billion Radiant World Claim in Singapore
Iron ore trader Radiant World has filed a S$2.5 billion ($2 billion) lawsuit against Glencore in Singapore. The legal action follows Glencore's decision to sever ties with the firm, alleging that Radiant World and its associates sent falsified invoices to lenders.
Glencore has accused Radiant World and associated companies of sending falsified invoices to lenders, cutting ties just as the iron ore trader filed a suit in Singapore against the Swiss-based commodities group, seeking S$2.5 billion ($2 billion) in damages.
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