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ANZ faces $100 million loss

The Australian Financial Review reports today that ANZ faces a loss on a loan to a shipping company controlled by fallen fertiliser king Pankaj Oswal. The Singapore company, Maruti Shipping, is involved in allegations that Oswal siphoned funds from his part-owned Burrup Fertilisers to pay Maruti's costs.Earlier this year receivers were  appointed to Burrup, which operates a fertiliser plant in Western Australia.

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