Richard Elman, the 77-year-old founder and largest shareholder of Noble Group Ltd., quit due to “differences of opinion” with the firms board and creditors over its future, in a fresh blow to the trading houses attempts to push through a massive debt restructuring.
The statement Friday came less than two hours after a regulatory filing showed that Elman this week trimmed his stake in Noble from 18.07 percent to 17.94 percent. The sale is small but symbolic: Elman, who started Noble with $100,000 of his savings in 1986, sold shares only once previously in the companys history, he testified in a court case last year.
The disclosure of Elmans disagreement with the board and the creditors “on the way forwards” caps a dire wee…
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