https://finance.yahoo.com/news/noble-group-moves-toward-debt-171154045.html
Noble's market capitalization is around $190m but its debt is $3.5B. A majority of that debt has to be converted into equity for Noble to survive. Therefore, Noble's share price will tank into the abyss and Noble will announce a stock consolidation after the debt-to-equity swap to avoid the "penny" stock status.
Noble's debt of $3.5b is about 18.4x of its market capitalization of $190m and it is selling its golden goose assets. In the end, it has no positive income-generating businesses left.
Will the creditors accept such a restructuring plan knowing that Noble has no more golden goose assets?
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