Australian supply chain finance provider Marketlend is suing its insurer, the Bond & Credit Company (BCC), for A$1.4mn (US$1mn) after it allegedly failed to honour a policy when a Singapore commodities trader went bust. In a document filed in the Federal Court in Sydney on December 14, Marketlend says BCC failed to cover it for .
Greensill’s use of risk mitigants, including trade credit insurance and export credit agency guarantees, was extensive. However, since the company’s collapse, doubts have been raised over its dependence on such cover, and in some cases, whether policies or guarantees were valid in the first place. John Basquill examines the controversial claims at the heart of .