Singapore legal spat over currency losses seen as test case

News

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Derivatives market participants are closely watching the legal spat between SembCorp Marine, a large Singapore-based offshore rig builder, and France's BNP Paribas along with 10 other dealers over payments related to $303 million of currency trade losses piled up by the former finance chief of a wholly owned SembCorp subsidiary, called Jurong Shipyard Pte Ltd (JSPL).

SembCorp Marine sacked its former group finance director, Wee Sing Guan, for entering into what it claims were "unauthorised foreig

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