John Basquill

A Hong Kong governmental advisory body has set out a strategy to establish the city as a commodity trading and financial services hub, including by better connecting mainland China and international markets.  Hong Kong’s location, common law system and established financial architecture give it a “natural advantage” in the commodity market, according to a report…

Mizuho has hired Saad Latif as head of trade finance for the Middle East and Africa, bolstering the team further after the June appointment of former Barclays executive Ravi Sivasubramanian.  Dubai-based Latif joined Mizuho after nearly four years as head of structured trade finance and supply chain finance at Gulf International Bank, a Bahrain-based role.  He was…

Invoice financing has grown dramatically in the last two decades, developing into a thriving ecosystem of banks, fintechs and institutional investors. But after a string of high-profile company collapses and market exits, can investors be sure their funds are safe?  This article first appeared in GTR‘s Q4 2025 magazine.  The supply chain finance (SCF) market grew rapidly in…

First Brands founder Patrick James obtained finance against non-existent or doctored invoices, as well as inventory that had already been transferred, in order to fund his “lavish lifestyle”, the company’s interim head has alleged.  Charles Moore of Alvarez & Marshal, who was appointed interim chief executive of First Brands last month, alleged that James “improperly secured billions of dollars in financing for First Brands…

BNP Paribas has said a €190mn fraud charge linked to receivables financing in its global markets division is linked to “new entries” with “low collateralisation”.  The Paris-headquartered lender made a €190mn “cost of risk” charge in relation to a specific credit event in its Q3 earnings report published on October 28.  Group chief financial officer Lars…

Independent credit and political risk insurance broker Texel Group has further expanded its Singapore office.

The European Bank for Reconstruction and Development (EBRD) has extended a €5mn trade finance facility to Tirana Bank, part of a first-ever €10mn financing package for the Albanian lender.  The package consists of a €5mn limit under the EBRD’s Trade Facilitation Programme (TFP), intended to expand Tirana Bank’s trade operations and promote cross-border activity in…

Working capital provider Katsumi Global says it is owed more than US$1.7bn following First Brands’ bankruptchy, court documents show, as creditors seek to locate billions of dollars they say have disappeared from the company’s factoring programmes.  US auto parts supplier First Brands, which filed for bankruptcy protection in Texas in late September, owes around US$2.3bn…

Working capital platform Raistone earned the bulk of its revenue from First Brands Group, which filed for bankruptcy protection this week, GTR understands.  The New York-headquartered company has originated financing for First Group companies for several years, and multiple sources told GTR this week they understood the relationship made up as much as four-fifths of…

An independent investigation into First Brands Group’s bankruptcy is probing whether receivables may have been financed multiple times, after the company accrued US$2.3bn in factoring liabilities.   US car parts supplier First Brands filed for bankruptcy in Texas on September 28, leaving a group of supply chain finance funders facing exposures of hundreds of millions dollars.  …