Noble Group Restructuring Gets Green Light in Bermuda Court
- Decision means debt revamp can go ahead next Wednesday Dec. 19
- Judge says commodity trader’s collapse is ‘exceptional case’
Noble Group Ltd. signage sits on display outside during an investor day.
Photographer: Nicky Loh/BloombergThis article is for subscribers only.
Embattled commodity trader Noble Group Ltd. is on track to complete its mammoth restructuring deal after a Bermuda court approved an officer to carry out the plan, using a local kind of insolvency process.
In a brief court hearing on Friday, the judge called the company insolvent and allowed a court-appointed officer to oversee the restructuring.