Dutch Bank ING Sues China ICBC for $170 Million in Copper Deal Losses for Releasing Copper Export Documents without Receiving Payments, Caused ING Client Triway International Losses with ICBC Client & Counterpart China Biggest Copper Trader Maike Currently Seeking Restructuring to Emerge from Liquidity Crisis
27th April 2023 | Hong Kong
Dutch bank ING has filed a lawsuit in Hong Kong against China ICBC (Industrial & Commercial Bank of China) for $170 million in copper deal losses in which ICBC had released copper export documents without receiving payments, causing ING client Triway International losses (sold copper, but no payment received) and ICBC client and Triway counterpart Maike (China biggest copper trader) currently seeking restructuring to emerge from liquidity crisis.
” Dutch Bank ING Sues China ICBC for $170 Million in Copper Deal Losses for Releasing Copper Export Documents without Receiving Payments, Caused ING Client Triway International Losses with ICBC Client & Counterpart China Biggest Copper Trader Maike Currently Seeking Restructuring to Emerge from Liquidity Crisis “
Dutch Bank ING Sues China ICBC for $170 Million in Copper Deal Losses for Releasing Copper Export Documents without Receiving Payments
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