Noble Group's long-suffering creditors and shareholders have been dealt a potentially killer blow after the Singapore authorities blocked the re-listing plans of the former commodities trading kingpin.
Pushed closer to the brink of liquidation, Noble said on Friday that it intended to pursue an alternative to its original $3.5 billion debt restructuring plan.
In doing so, the Board, in discharging its fiduciary duties, may implement the Restructuring through a court-appointed officer, Noble said.
Although it remains unclear what shape this new restructuring will take, there is speculation that it might involve insolvency protection. Noble said as much in...
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