Iceberg Research

Global Economy


SINGAPORE (June 24): “It seems Trafigura thinks they are smarter than the market when valuing securities.” — Iceberg Research, headed by Arnaud Vagner, as it accuses Amsterdam-based commodities trader Trafigura Group of overstating assets

Management & Corporate Governance

Short seller Iceberg of Noble Group fame now takes aim at Trafigura

(June 20): Iceberg Research, the short seller that targeted commodities trader Noble Group, has another trading house in its sights: Trafigura Group.

Management & Corporate Governance

Noble queries said to focus on mark-to-market gains

(Nov 27): Singaporean regulators investigating Noble Group have focused their questions so far on the company’s use of mark-to-market accounting, according to people familiar with the matter.

In print this week

Too little, too late?

SINGAPORE (Nov 23): Three years after a little-known outfit Iceberg Research accused commodities trader Noble Group of accounting deception, Singapore authorities have finally launched an investigation into the supply chain manager which is undergoing deb

Management & Corporate Governance

UK law firm Locke Lord to represent Noble perpetual bondholders: Iceberg Research

SINGAPORE (Sept 23): Iceberg Research has appointed a law firm to launch lawsuits against parties behind the commodity trader’s alleged fraud.

Management & Corporate Governance

Noble Group's top creditors seek to draw a line under crisis

(Sept 17): Noble Group Ltd. plans to introduce the schemes of arrangement that underpin its restructuring this week, a key step in the creation of a new company that senior creditors signalled will hold to the highest standards of corporate governance aft


Noble haunted by critics invoking Enron's ghost

SINGAPORE (Sept 10): A response from Iceberg Research to a tweet about Jeff Skilling (pictured, main image) this past week alerted me to the news that the former CEO of Enron Corp had just been released from prison and relocated to a halfway house for the

Back from the brink: How Noble Group was saved from an Iceberg collision

(Sept 5): In May 2017, Paul Brough had just assumed the chairmanship of Noble Group and immediately faced a room full of angry bankers demanding their money back from the struggling commodity trader.

Management & Corporate Governance

Ex-Temasek executive warns debt deal won't fix Noble Group

(Aug 28): Noble Group’s foes aren’t going away. Less than 24 hours after the commodity trader won shareholder approval for its US$3.5 billion ($4.77 billion) debt-for-equity deal, long-standing critic Michael Dee said the revamped company will struggl

Noble Group's shareholders vote in favour of debt restructuring

(Aug 27): Embattled commodity trader Noble Group took a significant step toward getting its US$3.5 billion ($4.8 billion) debt-for-equity restructuring over the line after shareholders voted to back the controversial proposal at a special general meeting