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'i Was Cheated': Tales From The Collapse Of Commodity Giant Noble Group, Companies & Markets News & Top Stories - The Straits Times

by straitstimes.com posted 9months ago 319 views
August 27, 2018 8:05 AMSINGAPORE (BLOOMBERG) - Francis Tay feels cheated. : The former Singapore civil servant says he's lost almost $50,000 in the implosion of Noble Group Ltd, the commodity trading giant. He also says shareholders like him have been let down by regulators whose job it is to protect them from the sort of crisis that's brought the company to the brink. Yet, the 71-year-old says he still plans to vote in favor of a debt-for-equity restructuring at a shareholder meeting in Singapore on Monday (Aug 27) that will hand control to senior creditors, diluting existing stockholders.

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