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UniCredit Bank’s US$37m claims against Glencore over Hin Leong’s transaction dismissed

UNICREDIT Bank has lost its claims to recover US$37 million from Glencore Singapore in a transaction related to liquidated oil trader Hin Leong as Singapore’s High Court ruled that Glencore did not defraud or deceive the bank into issuing the letter of credit.

Neither did the defendant conspire with...

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