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Noble issues summons against Arnaud Vagner and Enlighten Ace Limited

Thursday, August 20, 2015 - 18:29

COMMODITY trader Noble Group on Thursday said that it has issued a summons for discovery and inspection against Arnaud Vagner and Enlighten Ace Limited, the alleged authors of Iceberg Research's blog.

"As Arnaud Vagner & Enlighten Ace Limited have not responded to requests by the company's outside counsel to commence the discovery phase of the litigation by confirming their readiness to exchange the list of documents in this action, Noble has today filed a summons to compel Arnaud Vagner & Enlighten Ace Limited to file their lists of documents and allow inspection of all discovery documents," Noble said in its statement.

In March, Noble had said that it would 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."

Since February, an outfit called Iceberg Research has raised questions about Noble's accounting methods through its blog, which is anonymous. In the ensuing fallout, Noble's share price has slumped more than 60 per cent. On Thursday, it closed at S$0.43, half a cent higher.

"The company will keep the market updated," Noble said in its statement on Thursday.

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