Distressed Fund Wins Key Role in Case of Soy Giant Eyed by Bunge

A former Wall Street trader turned distressed-asset investor has become a major player in the bankruptcy case of Vicentin SAIC, a company that was once the crown jewel of Argentina’s huge soy industry.

Esteban Nofal, an Argentine who runs Cima Investments SA, has swept up almost 35% of Vicentin’s $1.3 billion of unsecured debt from a group of global banks for just 11 cents on the dollar. He stands to reap an impressive gain from the investment if a takeover plan led by Bunge Global SA is approved. And if it falls through, Cima is in a ...