Noble Group’s ability to keep its proposed $3.5 billion debt restructuring on track suffered a fresh blow on Tuesday after one of its largest equity shareholders filed a lawsuit with the Singapore High Court.
According to several media reports, Abu Dhabi-based Goldilocks Investment Company is seeking damages on behalf of equity shareholders and wants to claw-back $169 million in what it alleges were excessive payments to senior Noble executives between 2011 and 2017.
Its move underlines the wide gulf between Noble Group and some of its equity investors ahead of a crucial shareholders meeting scheduled for late April or early May when they will vote on...
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