A court has ordered Tokio Marine’s Australian subsidiary, the Bond & Credit Company (BCC), to pay an insurance claim of A$7.2mn to a trade financier which fell victim to a fraud carried out by Phoenix Commodities. Phoenix Commodities, a group of companies in the United Arab Emirates, Singapore and British Virgin Islands, collapsed in April…| Global Trade Review (GTR)
The GTR Leaders in Trade awards highlight excellence in the trade, commodity, supply chain, export finance and fintech markets. The winners in each category are based on submissions sent to GTR. Where relevant, Best Deals signed in 2024 were referenced as further substantiation for GTR’s decisions. GTR revealed the shortlist for the Leaders in Trade…| Global Trade Review (GTR)
Singapore-headquartered trader Triumph Global is suing embattled insurer Bond & Credit Company (BCC) in Australia over unpaid claims arising from the collapses of Rhodium Resources and Longview Resources. Triumph’s Hong Kong subsidiary entered into four commodity trades with Rhodium and another with Longview in early 2020, with a total value of just under €21.5mn, court…| Global Trade Review (GTR)
