The disclosure came in the bank’s four quarter results issued on Tuesday. Jefferies provided futures clearing and execution services to OW Bunker.
“The amount of our receivable was increased considerably by the relatively high volatility in energy prices at the time of OW Bunker’s failure to meet margin calls and during our realization process,” it said in a statement.
Jefferies, which has underwriten a number of shipping fund raisers this year, said it was pursuing a recovery of the amounts owed to us by OW Bunker.
“Since
