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Another Noble Group Ex-CEO Gets $20 Million After Legal Battle

  • Settlement follows Singapore court ruling for Ricardo Leiman
  • Payment was disclosed in the trading house’s earnings
Ricardo Leiman in 2010.
Ricardo Leiman in 2010.Photographer: David Paul Morris/Bloomberg
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Noble Group Holdings Ltd., the commodity trader shrunken by years of losses and a multibillion dollar restructuring, has paid $20 million to former Chief Executive Officer Ricardo Leiman.

The payment to Leiman, who left the company in 2011 -- several years before its 2018 restructuring -- was disclosed in a presentation accompanying Noble’s third-quarter results on Friday. It followed a long legal battle concluded in May, when Singapore’s Court of Appeal ruled that Noble had deprived Leiman of entitlements including the right to exercise share options when he left.