Jefferies-Linked Fund Reportedly Wins Freezing Order Against Radiant World

MT Newswires Live

14 hours ago

Jefferies Financial (JEF)-linked fund LAM Trade Finance Group II has secured a worldwide freezing order from the UK High Court against iron ore trader Radiant World and its founder Pinkesh Nahar, media outlets reported, citing people familiar with the matter.

The order also applies to Radiant World Holding, Radiant World Corporation, as well as Sapphire Minmetals and its chairman Rakesh Sethi, Bloomberg reported late Wednesday.

LAM Trade Finance filed claims against Radiant World in London last week, according to reports, citing court records.

Mizuho Financial's (MFG) Mizuho Bank also sought judicial management for Radiant World's main operating unit in Singapore, while Incomlend is pursuing claims exceeding $34 million against Radiant World and Nahar, the reports said.

Jefferies and Radiant World did not immediately respond to a request for comment from MT Newswires on Thursday.

Price: 53.77, Change: +0.87, Percent Change: +1.64

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