Trading firm Hin Leong and its court-appointed liquidators are suing the Lim family in an effort to recover funds to repay creditors to the collapsed firm.
Singapore s OK Lim Faces Liquidators, Banks in $3 5 Billion Case bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
The plaintiffs charged that Lim Oon Kuin and his two children perpetuated fraud to keep financing coming in, while paying themselves dividends when Hin Leong Trading was making no profit, leaving the company with massive debts.
Germany-based Tradewind Finance has joined the market for the first time and arranged a $2 million credit facility for an undisclosed international bunker trading firm.