Mizuho Bank files case against Radiant World in Singapore

KBC Groep NV

28/08/2026 04:14

SINGAPORE, Aug 28 (Reuters) - Japan's Mizuho Bank Ltd has filed a case against the Singapore operating entity of iron ore trader Radiant World in the city-state's Supreme Court, according to the court's website.
Mizuho Bank, the banking unit of Mizuho Financial Group 8411.T, is seeking an injunction against Radiant World Corporation, a court listing showed. Reuters could not find any other instance of public legal action by a Radiant World creditor. 
Some banks have frozen Radiant World's accounts and trading houses have severed ties on concerns the commodity trader had supplied invalid invoices to raise financing. Singapore Police confirmed this week that reports were lodged and investigations were ongoing.
The court listing did not provide details of the injunction sought.
Mizuho Bank declined to comment. A spokesperson for Radiant World did not immediately comment outside UK business hours.
Radiant World said in a statement in July that the claims were inaccurate and unsubstantiated.
Pinkesh Nahar founded Radiant World in the early 2000s, according to the company's website, which says it trades more than 80 million metric tons of iron ore annually. 
Deutsche Bank DBKGn.DE and KBC Group NV KBC.BR have frozen some of Radiant World's Singapore bank accounts, while some other lenders have suspended credit lines, Bloomberg News reported earlier in August.

 (Reporting by Solomon Cefai; Additional Reporting by Anton Bridge; Editing by Jacqueline Wong)
 ((solomon.cefai@thomsonreuters.com;))