SINGAPORE – Mizuho Bank has filed ?a case against the Singapore operating entity of iron ore trader Radiant World in the city-state’s Supreme Court, according to the court’s website.
Mizuho ?Bank, the banking unit of ?Mizuho Financial ?Group, is seeking an injunction ?against Radiant World Corporation, a court listing showed. Reuters could not find any other instance ?of public legal action by a Radiant World creditor.
Some ?banks have frozen Radiant World’s accounts and trading houses have severed ?ties on concerns ?the commodity trader had supplied invalid invoices to raise financing. Singapore ?Police confirmed this ?week that reports were lodged ?and investigations were ongoing.
The court listing did ?not ?provide details of the injunction sought.
Mizuho Bank declined to comment. A spokesperson for Radiant World did not immediately comment outside ?U.K. business hours.
Radiant World said in a statement in July that the claims were inaccurate and unsubstantiated.
Pinkesh Nahar founded Radiant World in ?the ?early 2000s, according to the company’s ?website, which says it trades more than ?80 million metric tons of iron ore annually.
Deutsche Bank and KBC Group have frozen some of Radiant World’s ?Singapore bank accounts, while some other lenders have suspended credit lines, Bloomberg News reported earlier in August.?
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