AsiaDry Cargo

Court rules Noble must pay ex-CEO millions

Singapore’s Court of Appeal has ruled in favour of a claim by Noble Group’s former CEO Ricardo Leiman to millions of unpaid shares, overturning a ruling from the High Court in 2018.

Leiman resigned from Noble in 2011 having expressed his concerns that the company was adopting questionable accounting and corporate governance practices, something that later in the decade would be exposed leading to the near bankruptcy of the commodities group founded by Richard Elman.

Leiman now runs a hedge fund called KLI Asset Management.

Tags

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
Back to top button
Close
Close