Singapore-based Radiant World and 10 associated companies have sued Glencore in a Singapore court, seeking over $2 billion in damages following the collapse of a decade-long commercial relationship.

The lawsuit follows allegations by Glencore that the iron ore trader and its affiliates submitted falsified invoices, contracts and fabricated emails to financial institutions.

In an emailed statement to MT Newswires, Radiant World confirmed the lawsuit, denying any wrongdoing and describing the matter as a "commercial dispute."

"Radiant World deeply regrets that it has been made the subject of public allegations that has caused grave damage to its business and reputation," a spokesperson said.

The Swiss commodities company previously said that it had cut all business ties with Radiant World in August.