Noble incurs additional legal risks with new investigation

The new investigation could fuel additional lawsuits against Nobel and perhaps also banks associated with the commodities trader. It might disrupt its imminent debt restructuring too.
Noble Group, a Singapore-listed commodities trader,e is under investigation by Singapore authorities
Noble Group, a Singapore-listed commodities trader,e is under investigation by Singapore authorities

The opening of a formal investigation into Noble Group could provide ammunition for lawsuits against the Singapore-listed company and, possibly, also banks associated with the commodities trader.

It may even jeopardise Noble's protracted $3.5 billion debt-restructuring, think some observers.

On Wednesday, Noble announced that both it and its wholly-owned subsidiary Noble Resources International NRI had received letters from a trio of Singaporean watchdogs. The Monetary Authority of Singapore MAS, Commercial Affairs Department CAD of the Singapore police, and the Accounting and Corporate Regulatory Authority ACRA, Noble said, were demanding access to their books stretching back to 2012.

A day earlier all...
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