Noble Group’s Cliffhanger

Noble Group’s Cliffhanger
2010: Harry Banga split… most of Noble problems start here.1
2015: Noble Group, one of the biggest traders of commodities from coal to iron ore is melting from its base.
Script writers have devised the solution of telling us a story but leaving it at a cliffhanger, thus forcing the market to postpone their execution to hear the rest of the tale.
A villain was designed and a lawsuit with an injunction was filed with the Hong Kong High Court asking to ban his research, hoping to ensure the audience will return to see how the characters would resolve the dilemma.
Behind the scenes, the legally aggressive stance of Noble Group Ltd is rapidly becoming known in the financial analysts’ community as analysts and media organizations are threatened one after another by the troubled SGX-listed trader.
The censorship and its lawyers used to claim full control of the situation with the hope that its critics and the market would be ‘reset’ – akin to being lobotomized.
The company has left us with its cliffhanger: even the most egregious comments made by Iceberg on the trader happened to be entirely correct.
‘The Hong Kong High Court has recently ordered that Noble pays a substantial amount of money to Iceberg after an unreasonable application made by Noble was once again rejected by the Court’.

This post was published at Zero Hedge on 05/01/2016.