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A court in Australia has heard claims that documents underpinning a financing arrangement for collapsed trader Phoenix Commodities may have been fabricated. Australian agribusiness financier Thera Agri Capital is suing insurer the Bond and Credit Company (BCC) over its refusal to pay A$7.3mn (US$5.4mn) under a trade credit policy, after Phoenix defaulted on the payment. ...
The former director of a collapsed UK commodities trading company has hit back at claims by UBS that he allowed company funds to be siphoned off to family members after it became insolvent. UBS alleged in a UK High Court suit last year that Vincom Commodities director Anil Kumar breached his fiduciary duties by supplying ...
Trade experts have welcomed a preliminary agreement by four influential World Trade Organization (WTO) members that would allow companies to produce and export Covid-19 vaccines without falling foul of patent laws. An internal WTO document leaked last week revealed that the EU, India, South Africa and US had agreed to let countries waive intellectual property ...
The Institute of Export & International Trade (IoE&IT) has opened a £1mn voucher scheme to help British businesses access help to export. Through the International Trade Accelerator Voucher scheme, businesses receive a £1,100 voucher that they can redeem against the IoE&IT’s services, including training, consultancy, and educational services, in a move the institute says will ...
A proposed EU regulation on corporate due diligence, aimed at rooting out human rights and environmental abuses in supply chains, will make compliance efforts by the bloc’s financial institutions trickier, lawyers say. The European Commission unveiled its proposal for the new law in late February, in the wake of growing pressure over abuses such as ...