Tuesday, December 11, was going to be a big day for creditors of Noble Group, and observers of the Singapore-listed commodity trading company generally: it was the revised deadline day for its proposed $3.5 billion restructuring, among the most complex ever attempted in Asia.
It won’t matter now. It will pass without consequence. Because on Thursday, the whole grand conceit was torpedoed by the joint forces of the Monetary Authority of Singapore (MAS), Singapore Exchange Regulation (SGX RegCo) and the Singapore Police Force.
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