HSBC seeks judicial management for Zenrock Commodities Trading: sources

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HSBC Holdings PLC has filed an application to the Singapore High Court to place Zenrock Commodities Trading Pte Ltd under judicial management, three people familiar with the matter said on Wednesday.

Under judicial management, an independent judicial manager is appointed to manage the affairs of a company.Just late last month, Zenrock issued a statement to reassure clients that it was not under financial duress after global oil and fuel prices slumped.

The company was founded in Singapore in 2014 by a group of traders including Xie Chun, Zenrock Commodities’ president, formerly from Unipec, and Tony Lin, formerly Vitol’s China head.Reporting by Roslan Khasawneh, Jessica Jaganathan, Anshuman Daga and Florence Tan; Editing by Neil Fullick

 

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If all 'minorities' WORLDWIDE obtain life insurance, I bet the spread of covid-19 stop.

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