Singapore-listed Noble Group Ltd halted trading of its shares on Thursday after defaulting on a $394 million bond that matured this week, as the commodity trader seeks a $3.4 billion debt restructuring seen as critical for its survival.
Noble’s restructuring deal has been opposed by some bondholders and shareholders, including Goldilocks Investment Co, which has an 8.1 percent stake in the firm.
Goldilocks filed a lawsuit with a Singapore court against the commodities trader and some of its former and current senior executives, alleging they inflated Noble’s assets.
Noble said it plans to vigorously resist any and all allegations or claims made against it.
Noble, which said earlier it would not make the redemption payme…
Read the full article at: https://www.cnbc.com/2018/03/22/noble-group-halts-share-trading-after-bond-default.html