Jefferies Subsidiary Wins Global Asset Freeze Order Against Radiant World

According to Sina Finance, a Jefferies Financial Group Inc. subsidiary obtained a global asset freeze order against Radiant World and its founder, Pinkesh Nahar. The order was issued by the High Court in Britain and is the biggest move by Radiant World creditors so far. Radiant World, one of the world’s largest iron ore traders, is facing increasing legal disputes. Media reports said Jefferies-affiliated fund LAM Trade Finance Group II LLC took legal action against Radiant World in London last week, including an application for an injunction. People familiar with the matter said the freeze order also covers Radiant World Holding Ltd., its main Singapore operating entity Radiant World Corporation Pte Ltd, and Nahar. They said Sapphire Minmetals Corporation Ltd. and its chairman and controlling shareholder, Rakesh Sethi, are also covered by the order.