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Asia PacificLim family s global assets on radar after Singapore court move Anshuman DagaJessica Jaganathan 4 minute read Founder of collapsed oil trading firm Hin Leong Trading Pte Ltd, Lim Oon Kuin, better known as O.K. Lim, arrives at the State Courts in Singapore April 30, 2021. REUTERS/Edgar Su A Singapore court has approved a freeze on up to $3.5 billion of assets of the family behind collapsed Hin Leong Trading Pte Ltd, boosting the prospect of debt recovery from the former oil trading empire that counts some of the world s biggest banks among its creditors. Hin Leong was wound up in March after failing in a year-long effort to restructure more than $3 billion in debts after the COVID-19-led oil crash laid bare huge losses. Founder Lim Oon Kuin admitted in a court document last year to directing the company not to disclose hundreds of millions of dollars in losses over several years. read more ....
Hin Leong's judicial managers file to wind up collapsed oil trader | Hellenic Shipping News Worldwide hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.
Judicial managers seek to wind up collapsed oil trader Hin Leong Toggle share menu Advertisement Judicial managers seek to wind up collapsed oil trader Hin Leong File photo of Lim Oon Kuin, founder of Singapore oil trader Hin Leong. (Photo: Reuters/Edgar Su) 24 Feb 2021 01:32PM (Updated: 24 Feb 2021 01:40PM) Share this content Bookmark SINGAPORE: Judicial managers of collapsed oil trading firm Hin Leong Trading, have filed a winding up application for the company, according to a notice posted on a government website. The move comes nearly a year after Hin Leong, once one of Asia s top oil traders owned by Singaporean tycoon Lim Oon Kuin and his children, racked up US$4 billion in debt and entered court restructuring. ....