{
  "id": 9552032,
  "title": "Singapore court places iron ore trader Radiant World under judicial management by KPMG",
  "url": "https://urgent.news/2026/09/24/singapore-court-places-iron-ore-trader-radiant-world-under-judicial",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-24T11:44:15.000Z",
  "source": {
    "name": "The Business Times - Companies & Markets",
    "slug": "the-business-times-companies-markets",
    "url": "https://www.businesstimes.com.sg/companies-markets/energy-commodities/singapore-court-places-iron-ore-trader-radiant-world-under-judicial-management-kpmg"
  },
  "original_language": "en",
  "account": "On Thursday, September 24, a Singapore court appointed KPMG restructuring executives to assume control of Radiant World Corporation, a trader accused of fraud involving iron ore receivables. This decision was made following an application by Mizuho Bank, which alleges the trader owes it USD97.3 million in iron ore sales to Glencore International. The KPMG executives, Toh Ai Ling, Adrian Chan, and Tan Yen Chiaw, will serve as interim judicial managers of Radiant World Corporation, an entity crucial to the company's operations in Singapore. The appointment of interim judicial managers is a common measure taken by creditors to oversee a company in financial distress with the goal of rehabilitating it or reaching a settlement with creditors. KPMG, Mizuho, and Radiant World did not immediately provide a response to requests for comment. This development marks a significant escalation in the crisis surrounding Radiant World, once a prominent player in the iron ore trade. Mizuho had previously filed a lawsuit against the trader for USD97.3 million in receivables, stemming from iron ore sales to Glencore International. The bank later expressed strong evidence suggesting it had fallen victim to fraud.",
  "summary": "Mizuho Bank has accused the trader of an alleged fraud linked to iron ore receivables",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Straits Times Business",
        "title": "Vitol trader confirmed Radiant World deal that Vitol now denies",
        "url": "https://urgent.news/2026/09/24/vitol-trader-confirmed-radiant-world-deal-that-vitol-now-denies",
        "published": "2026-09-24T05:25:00.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}