Last month, the trader assured that it was not under financial stress.
HSBC is seeking to place Singaporean trader Zenrock Commodities Trading under judicial management, reports Reuters.
Zenrock trades crude, oil products, and petrochemicals.
Last month, Zenrock reassured its clients that it was not under financial stress after the crash of global oil and fuel prices.
Under judicial management, an independent judicial manager will oversee a company’s operations.
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