Wealth Fund Hits Back At Investors In Defunct Gas Co. Suit

By Lucia Osborne-Crowley (October 11, 2021, 2:28 PM BST) -- Singapore's sovereign wealth fund has hit back against a lawsuit filed by a Norwegian financial trustee, saying the court should uphold a guarantee that makes it a top creditor against a now-defunct Chinese natural gas company.

GIC Private Ltd. has urged the High Court, in a newly public defense, to dismiss a claim by Nordic Trustee AS, which seeks to prevent the sovereign wealth fund from enforcing a guarantee on $50 million of bonds issued by a Chinese natural gas producer in 2014.

The gas producer and issuer of the bonds, Green Dragon Gas Ltd., also filed its defense with the...

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