Losses from rogue biofuels trader send Nidera back to Cofco for $258 million in loans

In the Netherlands, the full extent of the impact on Nidera’s business following the actions of a rogue biodiesel trader in 2015 that led to unknown losses of $115 million as well as related costs and irregularities were revealed in the company’s 2016 reporting recently. In December, the company had to turn to its new parent Cofco for $218 million in loans and then another $40 million in March 2017. Net losses for the company last year were more than $266 million.