Australian trade finance platform Marketlend says it intends to file further lawsuits against trade credit insurer the Bond & Credit Company (BCC) and its parent, Tokio Marine, for what it says is failure to honour claims filed after a spate of insolvencies in the Asian commodities trading sector. Marketlend last year asked Australia’s Federal Court…| 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)