HONG KONG (Reuters) – Noble Group Ltd (NOBG.SI) warned on Monday that it would begin insolvency proceedings if the beleaguered commodity traders $3.4 billion debt restructuring proposal was not approved by shareholders.
Nobles debt restructuring process is seen as critical for the firms survival. But the deal has been opposed by some bondholders and shareholders, including Goldilocks Investment Co, which has an 8.1 percent stake in the firm. [nL3N1R41TM]
Goldilocks has filed a lawsuit with a Singapore court against the commodities trader and some of its former and current senior executives, alleging they inflated Nobles assets.
Defending its proposal, Singapore-listed Noble said on Monday that the support of its senior creditors and trad…
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