Jefferies-Linked Fund Escalates Radiant World Fight with Singapore Injunction
JEF sits 56% above its 52-week low of $35.53.
Summary
LAM Trade Finance Group II, a fund in which Jefferies holds a minority stake, has applied for a freezing injunction against Radiant World and its founder in Singapore's Supreme Court. This follows a UK freezing order secured last week and adds Sapphire Minmetals and its chairman as named parties. A hearing is set for Wednesday. The dispute centers on allegations of invalid invoices, with multiple banks and trading houses already severing ties with Radiant World. While Jefferies' direct exposure is limited to its minority stake, the escalating legal action and widening counterparty fallout could pressure the fund's assets and raise questions about Jefferies' risk management in trade finance.
At the time of this announcement, JEF was trading at $55.34 on NYSE in the Finance sector, with a market capitalization of approximately $12.7B. The 52-week trading range was $35.53 to $71.04. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.