Noble's equity shareholders ask for more

A lawsuit and stock sales underline equity shareholders continuing dissatisfaction with Noble's proposed restructuring as the group defaults on its March 2018 bond issue.

Noble's equity shareholders ask for more

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.

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