Jack Farchy, Javier Blas and Jasmine Ng
A revolt by Noble Group‘s shareholders has emerged as one of the major threats to the struggling trading house’s $US3.5 billion ($4.45 billion) restructuring deal after it agreed terms with a group of hedge fund creditors.
If shareholders vote against the deal, the company will seek to implement the restructuring as a pre-packaged administration in Britain, an action that would effectively concede the company is insolvent, Noble said on Wednesday as it announced an agreement on the terms of the restructuring with 46 per cent of its senior creditors.
Noble is teetering on the brink of collapse following a crisis that started three years ago when then-unk…
Read the full article at: http://www.afr.com/leadership/company-culture/shareholder-revolt-risk-for-noble-group-debt-deal-20180315-h0xiy0