(Mar 23): Noble Group’s week of woe just got worse as the commodity trader, which has defaulted on its debt and seen founder Richard Elman quit the board, said that it’s being sued by an Indonesian coal producer for more than a quarter of a billion dollars.

The Hong Kong-based trader “has become aware” that PT Atlas Resources has filed a lawsuit in Indonesia against the company seeking compensation of more than US$260 million ($341.8 million), it said in a statement on Friday. “The company is not aware of the grounds for the claim or any further details relating to the same. Nonetheless, the company intends to vigorously defend any claim if served.”

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