A Singaporean court appointed KPMG restructuring business executives to take over Radiant World on Thursday to approve an application filed by creditor Mizuho Bank. Mizuho charged the trader with fraud in iron ore receivables financing. The decision meant that Radiant World founder Pinkesh Nahar lost control of the group's core operating entities. According to people familiar with the court's decision, KPMG's Toh Ai Ling, Adrian Chan, and Tan Yen Chiaw will act as interim judicial administrators for Radiant World Corporation Pte. The company is Radiant World's core operating entity in Singapore. The court communicated the decision on Thursday.

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