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Transmar Commodity Group Ltd.

  1. December 19, 2018

    Ch. 7 Trustee Seeks To Recover Ex-Transmar Exec's Wages

    The Chapter 7 trustee for defunct cocoa company Transmar Commodity Group Ltd. filed suit in New York bankruptcy court Wednesday to claw back $1.5 million from a convicted former executive and roughly $860,000 from entities that may have played a role in the $350 million fraud scheme that destroyed Transmar.

  2. March 13, 2018

    Cocoa Seller Can't Probe Other Transmar Creditor In Ch. 7

    A New York bankruptcy judge on Tuesday denied efforts by Dutch cocoa products trader Theobroma BV to serve discovery requests on a fellow creditor in the Chapter 7 case for Transmar Commodity Group Ltd., calling it an improper attempt to build a lawsuit against the other third party.

  3. March 09, 2018

    Transmar Cocoa CEO, Son Plead Guilty To $400M Bank Fraud

    A father and son pled guilty Friday in New York federal court to defrauding a group of lenders through false "borrowing base" reports designed to secure a $400 million line of credit for their cocoa trading company, Transmar Commodity Group Ltd., and face a maximum of 30 years in prison.

  4. January 12, 2018

    Big Banks Sue Bankrupt Cocoa Firm Claiming Financial Fraud

    Amro, Société Générale, BNP Paribas and five other global banks with commodities operations have sued eight executives of bankrupt cocoa firm Transmar Commodity Group Ltd. in New Jersey federal court, claiming the struggling firm gave the banks false information about its financial condition as it sought to enter into a $360 million credit agreement.

  5. October 03, 2017

    Transmar Ordered To Hand Over Docs On $8.2M In Lost Cocoa

    A New York bankruptcy judge on Tuesday ordered bankrupt cocoa trader Transmar Commodity Group Ltd. to hand over documents and find an employee to be deposed regarding $8.2 million worth of cocoa butter and powder whose whereabouts is unknown after Transmar allegedly bought it.

  6. September 08, 2017

    AMRO Presses Ch. 7 Judge For Transmar Emails Order

    A lawyer investigating bankrupt Transmar Commodity Group Ltd. on behalf of lender ABN AMRO Capital USA LLC asked a New York bankruptcy judge on Thursday to order an auditor to turn over information that could shed light on the cocoa concern's fraud-tinged fall into insolvency.

  7. August 08, 2017

    Transmar Cocoa CEO, Son Accused Of Massive Bank Fraud

    The chief of New Jersey-based Transmar Commodity Group Ltd., his son and a finance executive at the belly-up cocoa trader were hit with fraud charges Tuesday, two weeks after their bid to restructure more than $360 million of bank debt was converted by a bankruptcy judge into a liquidation.

  8. June 06, 2017

    Transmar Blasts ABN Amro's Ch. 7 Conversion Request

    Cocoa trader Transmar Commodity Group Ltd. objected Monday to lender ABN Amro's motion to convert its bankruptcy to Chapter 7, countering the bank's claim that Transmar executives defrauded it and saying the conversion would disrupt pending asset sales.

  9. April 07, 2017

    Transmar Lender Gets OK To Subpoena Over Lost Collateral

    ABN Amro got clearance Friday to issue subpoenas on two former Transmar Group senior staff accountants that the bankrupt commodity trader has refused to make available for depositions, advancing the lender's effort to investigate the apparent disappearance of hundreds of millions of dollars of its collateral.

  10. March 30, 2017

    Cocoa Co. Seeks Emergency Sale Of Forward Contracts

    Cocoa trader Transmar Commodity Group Ltd. has asked a New York bankruptcy court on Tuesday for an emergency motion that would allow it to offload forward contracts for up to $2 million, and creditors objected to an asset sale for a subsidiary.

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