The High Court has found Goh Jin Hian, a former director of insolvent marine fuel supplier Inter-Pacific Petroleum (IPP), liable for breach of director’s duties, statutory duties and losses suffered by the firm amounting to US$146 million (S$196 million) plus interest.
A judge said Goh Jin Hian failed to spot three ‘red flags’ that should have triggered his inquiry into the financial position of now-insolvent marine fuel supplying firm IPP.
"An honest and reasonably diligent director would have persisted and probed further," said the judge of Goh Jin Hian's lack of action amid the company's financial troubles.
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