Summary
Industrial conglomerate Sumit- omo is launching a $1.1bn damages claim today, against a member of the London Metal Exchange in one of the largest and most complex actions ever to come before the High Court.
Its claim for $US695m plus interest is against Credit Lyonnais Rouse, the futures part of the bank which acted as clearing broker in relation to the copper trading of rogue trader Yasuo Hamanaka, who was employed by Sumitomo as head of its non-ferrous metals division.See the full content of this document
Extract
Japanese Group Launches Bid for $1.1bn Damages
Sumitomo alleges that CLR dishonestly...
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