ENERGY & OFFSHORE | Staff Reporter, Singapore

2 bondholders drop lawsuit against Noble

The trader is currently in “constructive discussions” with the two.

Noble Group said a lawsuit filed by its perpertual bondholders Pinpoint Asset Management Ltd and Value Partners Limited in the Courts of England on 13 June 2018 has been discontinued.

According to an announcement, the two firms sought an injunction blocking the transfer of assets that would have been brought about by Noble’s proposed restructuring.

Noble, however, was not served the suit and received a notice of discontinuance of the claim on 19 June 2018.

Pinpoint Asset Management and Value Partners hold Noble’s existing 6% perpetual capital securities.

“The company remains in constructive discussions with the holders in connection with the proposed restructuring and, if there are any material developments arising out of those discussions, the company will make appropriate announcements on the Singapore Exchange Securities Trading Limited (SGX-ST) in accordance with the listing rules of the SGX-ST,” Noble said.

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