Tag: port

A crucial court decision and improved practices around commodity assets and collateral is helping restore confidence following fraud at the Port of Qingdao

Citi failed to force Mercuria Energy to stump up $270 million, but the crucial UK High Court ruling over metals financing will provide comfort for trade finance banks in China and users of repo agreements alike.

The ruling on a critical dispute between metals trading firm Mercuria and Citi has been posted on the UK High Court's commercial list. The long-awaited decision will be publicly available today at 2:00pm BST.

The Qingdao Port investigation will drag into mid-way next year, according to a China trade services expert, treasurers can expect pre-shipment finance to be “virtually impossible”.

As treasurers face trade finance delays connected to China’s investigation into Qingdao Port warehouses, Rob Caldwell, partner DLA Piper updates CT.