The Business Times
business-time-50

ING-led banks win access to Citi accounts linked to failed Agritrade

Published Wed, Sep 16, 2020 · 09:50 PM

    Singapore

    A GROUP of banks led by ING Groep won a court order compelling Citigroup and Sumitomo Mitsui Financial Group to reveal account details linked to failed commodities firm Agritrade International.

    The Singapore ruling makes the two lenders share client names, bank statements and fund transfer instructions, according to court documents obtained by Bloomberg News. The information obtained from the banks may only be used for legal proceedings, according to the Aug 17 order.

    Agritradejudicial management

    TRENDING NOW

    Malaysian Chinese bag-maker Liew Bin now sees value in protectionist measures as low-cost competition from China threatens Malaysian small and medium-sized enterprises.

    Once staunchly pro-China, Malaysian Chinese businesses are now distancing themselves from Beijing

    Asean’s consensus-based decision-making, principle of non-interference and vast differences among members make coherent collective action a big challenge.

    The middle power moment arrives in South-east Asia – but not for Asean

    OCBC is still the best performing constituent of the STI this year; DBS and UOB are in third and eighth place respectively.

    DBS, OCBC, UOB face rate hike reality check

    Some of the fastest growth is being recorded across a cluster of northern industrial provinces closely tied to electronics manufacturing and global supply chains.

    Vietnam’s northern provinces, not Hanoi or Ho Chi Minh City, are powering near 10% GDP growth

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More