Exporter, Singaporean Bank Settle $16.3M Sham Docs Dispute

Law360, London (September 2, 2019, 5:37 PM BST) -- A Chinese commodities exporter has settled a $16.3 million claim brought against it by Singapore-based lender Oversea-Chinese Banking Corp. over the alleged use of sham sales documents in a trade deal.

The lawsuit, which was brought against Global Trading Links Ltd., has been stayed at the High Court after the companies agreed to terms set out in a confidential out-of-court agreement, according to a consent order signed by Judge Simon Bryan on Aug. 30.

Judge Bryan did not make an order granting legal costs to either side, but he said that Global Trading Link’s law firm Clyde & Co. LLP is...

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