As banks quietly spurned GFG’s Liberty, commodity traders filled financing breach

摘要

Metal merchants for years ploughed credit into Liberty Commodities, the trading unit of GFG Alliance, even while banks quietly shunned the company. In separate instances related to nickel and copper deals dating to 2016, blue-chip banks including ICBC Standard Bank, Sberbank and Commonwealth Bank of Australia (CBA) have abruptly halted financing of commodity trades made by Liberty after finding irregularities in the paperwork that underpins ownership.