Noble refutes Goldilocks' allegations

SINGAPORE (Jan 31): Noble Group says allegations of management enriching themselves through the debt-restructuring deal at the expense of shareholders are unfounded.

The embattled commodity trader was responding to a letter sent by majority shareholder Goldilocks Investment Company to the Singapore Exchange (SGX) on Tuesday.

In its letter, Abu Dhabi's Goldilocks, holding 8.1% of Noble, had complained to regulators that Noble's management seemed to have focused on their own interest over the interest of its existing shareholders and creditors when agreeing to the deal.

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