EXCLUSIVE: Access World says it is not liable in $32 mln nickel fraud case

Warehousing firm Access World is not liable for damages in the nickel fraud lawsuit between brokerage Marex Spectron and Natixis SA, it has claimed in court documents obtained by Metal Bulletin.

Natixis is suing Marex for $32 million over an alleged multi-million-dollar fraud to recover losses incurred in this year’s nickel-related warehouse receipt forgery.
“It is denied that Marex is entitled to the relief claimed or at all,” Glencore-owned Access World said in its 23-page defense document filed in mid-September in a London court. Access World was named a part-20 defendant in the case in mid-June.

Under consideration are more than five spot purchase contracts – three of them done in a joint trade – with a total of 16 receipts for nickel stored...


Justin Yang

October 05, 2017

18:39 GMT