Noble Group files claim against Yancoal Australia, seeking damages

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Noble Group said that its subsidiary Noble Resources International had filed a claim in the Court of New South Wales, Australia, on Friday seeking at least US$127 million in damages from Gloucester Coal and Yancoal Australia.

The troubled commodity trader was alleging breaches of contractual obligations under a marketing services agreement entered into in 2011, it said in a filing to SGX after the market close on Friday.

Noble said it would make further announcements as the matter developed.

A representative of Yancoal Australia said in an emailed statement on Saturday: “We are currently reviewing Noble’s claim and considering our legal options. We are unable to provide further comment at this time.”

This article was originally published on Friday, 3 August 2018 at 23:15 SGT; it has since been updated to include comment from Yancoal Australia.

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