Bank of China sues BP over deals

Bank of China has sued BP in Singapore over its alleged role in fabricating oil deals with collapsed trader Hin Leong.

The bank requested that BP repay $125.7 million (about R1.8 billion) that it withdrew from the lender earlier this year based on sales of gasoil cargoes to Hin Leong, according to court documents. The deals were part of “fictitious purchase scheme conspiracy”, the bank said.