Noble Group Prepare for U.K. Insolvency Procedure
- Company is said to prepare ‘alternative restructuring’ plan
- Trader’s rescue plan in doubt after Singapore blocked listing
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Noble Group Ltd. is preparing for an insolvency filing after Singaporean regulators blocked a key element of its $3.5 billion debt restructuring, according to people familiar with the matter.
The company is considering what’s known as a "pre-pack" administration, a procedure that allows for a debt restructuring in court through a pre-agreed plan with creditors, one of the people said, asking not to be identified because the talks are private.