Sunday, August 3, 2014

After China port fraud probe, messy legal fight chills metal trade

Posted by My Blog Collection at 3:22 PM

HONG KONG/SHANGHAI (Reuters) - As global banks and trading houses fire off lawsuits over their estimated $900 million exposure to a suspected metal financing fraud in China, the tangled legal battle to recoup losses is set to drag on for years and hinder a swift recovery in metal trade. HSBC (LSE:HSBA.L - News) is the latest bank to launch legal action since Chinese authorities started a probe ...



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