Noble takes legal action to try and sink Iceberg

Noble takes legal action to try and sink Iceberg

Singapore: A simmering spat between a Hong Kong research outfit and one of the city’s top commodities traders is heading to court.

Noble Group has decided to take action against Iceberg Research over three reports it has issued claiming the Singapore-listed financial reporting has not been correct.

“We reject their allegations as inaccurate, unreliable and misleading,” Noble said in a release to the Singapore Exchange today.

Noble said Iceberg was not the independent research house it claims to be.

“Their actions, and their timing, have been calculated primarily to inflict damage rather than to facilitate the distribution of research,” Noble claimed.

Noble said it will start legal proceedings against Arnaud Vagner, a resident in Hong Kong, Enlighten Ace Ltd, a Seychelles company and any associates, at the Hong Kong High Court for conspiracy to injure Noble Group. Vagner had worked with Noble for two years through to 2013.

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.

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