June 12, 2017 / 10:28 AM / 3 years ago

Natixis sues Marex Spectron over metals warehouse receipts

LONDON, June 12 (Reuters) - French bank Natixis has sued broker Marex Spectron for $32 million over alleged fraudulent receipts for nickel stored at warehouses in Asia run by a unit of commodities giant Glencore, a court filing showed.

In the legal action filed in London’s High Court, Natixis said it would seek damages from Marex because the bank provided finance based on the fake receipts in a deal arranged by the broker.

“We vigorously contest Natixis’ claim,” Marex said in a statement.

Natixis acknowledged it had filed a lawsuit against Marex but declined to make any further comment.

Warehouse company Access World, owned by Glencore, said on Jan. 21 that it has become aware of fake warehouse receipts circulating in its the name and urged holders to seek authentication.

Access World’s owner Glencore declined to comment. (Reporting by Eric Onstad in London and Melanie Burton in Melbourne, editing by Louise Heavens)

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