Marex, Warehouse Ordered To Pay Costs In Natixis' $32M Win

Law360, London (November 8, 2019, 4:11 PM GMT) -- A subsidiary of mining giant Glencore PLC lost an attempt on Friday to slash the contribution it has to pay toward a commodities broker’s $32 million bill for French investment bank Natixis SA’s recent court victory over fraudulent warehouse receipts.

Judge Simon Bryan ruled at the High Court that Access World Logistics (Singapore) Ltd. will have to pay at least €1.3 million ($1.43 million) toward the $32 million in damages owed by the broker, Marex Financial Ltd., to Natixis. The judge rejected arguments from Access World, which provides warehouse space, challenging how he decided to apply a discount to the damages....

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