The number of claims against Radiant World assets has doubled in the last decade, according to filings

Radiant World is one of the largest iron ore traders in the world. It has 21 registered creditors who have registered claims on its assets. This number will more than double before 2025.

Bloomberg reported in late July that Vitol Group, Cargill and Glencore have ceased trading with Radiant World.

Bloomberg reported that two of these trading firms found that Radiant World's banks had received documents or invoices that were not valid. Reports said that the third trading house withdrew after it was informed of concerns about falsified documents.

Radiant World Singapore's operating entity had registered secured creditors who held 10 claims before 2025. This number has now risen to 21. The filings don't show whether credit facilities were used or how much was available.

The new lenders that were registered?in the year 2025 included LAM Trade -Finance Group (an entity affiliated with Jefferies), China CITIC Bank International (an entity associated with Jefferies), GarantiBank International (an entity associated to United Overseas Bank), TradeXBank (a subsidiary of UOB), Nexent Bank, and Arab Bank (Switzerland).

Jefferies declined comment. TradeXBank refused to comment on the alleged client relationship.

United Overseas Bank CFO refused to comment on earnings call held last week.

No written comments were received from GarantiBank, China CITIC Bank International (?Nexent Bank), or Arab Bank.

Intesa Sanpaolo was registered as a secured creditor in 2026, along with Mizuho Bank Mauritius Commercial Bank, and a fund that is connected to Mariner Investment Group.

Mauritius Commercial Bank and Mizuho Bank refused to comment. Mariner Investment has not responded to an email request for comments.

Earlier registered lenders include ?Qatar National Bank, Raiffeisen Bank, CA Indosuez, Banque Cantonale de ?Geneve, Societe Generale, Arab Banking Corporation, Macquarie Bank, KBC Bank, Barclays Bank and Deutsche Bank.

Societe Generale, KBC Bank, Raiffeisen ?Bank, Barclays Bank, Macquarie Bank and ?Deutsche Bank declined to comment.

The Qatar National Bank, CA Indosuez and Banque Cantonale de Geneve did not reply to our request for comments.

Radiant World has said that it will not comment on any commercial issues. Solomon Cefai reported; David Holmes edited.

(source: Reuters)