The company's creditors and shareholders are likely to suffer even bigger losses now the Singapore authorities have blocked a key part of its $3.5 billion debt-for-equity survival plan.
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.
The founder of Noble will free up his executive director role ahead of the beleaguered commodity trading firm's vote on its $3.5 billion debt-for-equity swap.
Shareholders of the beleaguered commodity trading firm will decide later this month whether to save it from collapse by voting on a searing debt-for-equity swap.
Over 75% of Noble's senior debt holders agree to its $3.5 billion restructuring plan, a crucial step for the turnaround of the embattled commodities trader.
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.