July 31 (Reuters) - Vitol Group and Cargill have stopped
trading with Radiant World, one of the world's largest iron ore
traders, Bloomberg News reported on Friday, adding that Glencore ( GLCNF )
is no longer doing new business with the company.
Two of the trading houses saw invoices or other documents
that Radiant World had provided to its banks that were not
valid, the report said, citing people familiar with the matter.
The third trading house pulled out after being informed about
concerns over falsified documents, Bloomberg reported.
At least two creditors, Intesa Sanpaolo SpA ( IITSF ) and
Jefferies Financial Group's ( JEF ) Point Bonita fund, are
reviewing their exposure to the company, Bloomberg said.
An Intesa spokesperson told Reuters that it has an exposure
of €200 million ($229.70 million) to Radiant World for which it
has booked provisions.
($1 = 0.8707 euros)