The cost of Noble Group Ltd.s restructuring is likely to top $100 million, another financial burden for the cash-strapped commodities trader that has defaulted on its bonds.
The estimated price tag for advisers and other expenses, based on disclosures in regulatory filings, is approaching the companys entire market value of $114 million as Noble pays fees to the companys creditors and foots much of the bill for the 11 law firms, investment banks and public relations consultants working on the restructuring.
Despite having defaulted on its debt this week, Noble has agreed to pay some of the multi-million dollar fees by today as part of a binding deal with a group of senior creditors.
The company declined to …
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