Paul Brough is to remain chairman of Noble Group after the crisis-hit commodity trader completed its emergency $3.5bn debt restructuring.
The Hong Kong-based group had been set to name Ian Potter, a former Morgan Stanley commodities banker, as its new chairman but that was before authorities in Singapore launched a criminal investigation into false and misleading statements it claims the company made.
Nobles proposed debt-for-equity swap, announced in January, was then thrown into doubt after regulators in the city-state said Noble could not relist its shares on the Singapore exchange.
That meant Noble had to fall back on an alternative plan and push through the restructuring in Bermuda, leaving its beleaguered investors with stakes …
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