Caught short
Given the difficulty China Aviation Oil is having closing its remaining illiquid positions, its derivative trading losses may be greater than first thought. James Ockenden and Stella Farrington report
But it ended the year in bankruptcy, with its chief executive Chen Jiulin on bail from a Singapore jail, and with Singapore becoming the centre of a scandal surrounding the sale of 15.8% of the company by its parent China Aviation Oil Holding Company (CAOHC) which hid the
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