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Noble to seek court-ordered administration in Bermuda to complete restructuring into New NobleTROUBLED commodities trader Noble Group said that it will apply to the Bermudian court for a hearing on Dec 14 for a court-ordered administration in Bermuda to complete the restructuring of the company into New Noble. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Noble Group taps Bermuda court to keep debt restructuring plan afloatNoble Group said on Tuesday (Dec 11) it will push on with its US$3.5 billion debt restructuring by keeping the new company private, a last-minute ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Noble Group restructuring gets green light in Bermuda court[NEW YORK] Embattled commodity trader Noble Group is on track to complete its mammoth restructuring deal after a Bermuda court approved an officer to carry out the plan, using a local kind of insolvency process. Read more at The Business Times.
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Noble says US$800m in new money debt available for New Noble as restructuring takes effectNOBLE Group said, as its restructuring took effect on Thursday, that a total US$800 million in new money debt has been made available to New Noble - the restructured entity whose planned listing on the Singapore bourse was derailed by an ongoing probe into improper accounting. Read more at The Business Times.
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Noble relisting is off; assets found to be potentially inflatedTHE relisting of commodity-trader Noble Group will not proceed on Dec 11 as targeted, with the authorities' investigations having discovered that the to-be-relisted New Noble's net asset value (NAV) could be half of what has been reported. Read more at The Business Times.
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Noble may seek court-appointed administration in Britain after Singapore authorities block relisting: board reiteratesEMBATTLED commodities trader Noble Group may seek court-appointed administration in Britain after Singapore authorities blocked its relisting plans, and is disputing regulators' allegations of improper accounting, the board said early on Friday. Read more at The Business Times.
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Noble disputes regulators' allegations of improper accountingCOMMODITIES trader Noble Group is disputing allegations of possible accounting irregularities by regulators, who have relied on those potential inaccuracies to block a key step in the company's restructuring plans. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Singapore regulators won't let Noble re-list, citing potentially inflated assetsTHE Monetary Authority of Singapore (MAS) and Singapore Exchange Regulation (SGX Regco) have decided not to allow Noble Group (NGL) to transfer its listing status to New Noble as part of NGL’s proposed restructuring, MAS, SGX Regco and the Singapore Police Force said in a joint statement on Thursday. Read more at The Business Times.
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