24 May 2020

ZenRock Commodities Trading’s restructuring of credit liabilities to bankers

Partner Tan Chuan Thye from Rajah & Tann Singapore is acting for ZenRock Commodities Trading, a Singapore-based wholesale crude oil trader, in its efforts to restructure the US$300 million letter of credit liabilities to its bankers. The restructuring highlights the challenges following the widely reported problems at another oil trading company - Hin Leong - where well-known names in trade finance have found themselves exposed to very large losses.