Qingdao Port sued by Pacorini, named in ABN Amro suit against Citic

Qingdao Port has been sued by Glencore’s warehousing division over undelivered aluminium, and named as a party in a lawsuit brought by ABN Amro.

The latest update from the Hong Kong-listed port operator highlights the legal tangle in the aftermath of an alleged warehousing fraud in Qingdao.Traders, banks and warehousing firms fight to limit losses and protect their interests. Pacorini Logistics, owned by Glencore is suing two of Qingdao Port’s subsidiaries in two claims totaling more than $58 million, the...


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August 18, 2014

05:13 GMT