Claims against Radiant World assets have doubled since 2025, filings show
SINGAPORE - One of the world's largest iron-ore traders, Radiant World, has 21 creditors with registered claims over its assets, more than double the number before the start of 2025, according to registered charge filings in Singapore.
In late July Bloomberg reported that Vitol Group and Cargill have stopped trading with Radiant World and that that Glencore is no longer doing new business with the company.
Two of these trading houses saw invoices or other documents that Radiant World had provided to its banks that were not valid, Bloomberg reported. The third trading house pulled out after being informed about concerns over falsified documents, the report said.
The number of secured creditors with registered claims over Radiant World's Singapore operating entity stood at 10 before the start of 2025 and has since risen to 21. The filings do not show whether credit facilities have been drawn or the amount available.
New lenders registered in 2025 were LAM Trade Finance Group, an entity associated with Jefferies, China CITIC Bank International, GarantiBank International, United Overseas Bank (UOB), TradeXBank, Nexent Bank and Arab Bank (Switzerland).
Jefferies declined to comment. TradeXBank declined to comment on alleged client relationships.
In an earnings call last week United Overseas Bank CFO declined to comment.
GarantiBank, China CITIC Bank International, Nexent Bank and Arab Bank did not respond to written requests for comment.
Intesa Sanpaolo, Mizuho Bank, Mauritius Commercial Bank and a fund connected to Mariner Investment Group were registered as secured creditors in 2026.
Mauritius Commercial Bank and Mizuho Bank declined to comment. Mariner Investment did not respond to an emailed request for comment.
Earlier registered lenders include Qatar National Bank, Raiffeisen Bank, CA Indosuez, Banque Cantonale de Genève, Société Générale, Arab Banking Corporation, Macquarie Bank, KBC Bank, Barclays Bank and Deutsche Bank.
Société Générale, KBC Bank, Raiffeisen Bank, Barclays Bank, Macquarie Bank and Deutsche Bank declined to comment.
Qatar National Bank, CA Indosuez, Banque Cantonale de Genève, and Arab Banking Corporation did not respond to a request for comment.
Radiant World said it does not comment on commercial matters.
