Asia/Pacific News
Singapore Court Approves $3.5 Billion Asset Freeze for Hin Leong Founder
Monday May 24, 2021
A Singapore court has assets worth up to $3.5 billion owned by Hin Leong Trading founder OK Lim and his family.
Singapore's High Court accepted a request for the asset freeze on behalf of the company's liquidators on Friday, news agency Reuters reported on Monday, citing comments from the liquidators.
The liquidators now plan to require the Lim family to disclose their assets.
Hin Leong collapsed last year in the wake of the crude-price crash and allegations of forged documents being used to secure funding from banks. The firm and its subsidiary Ocean Bunkering, formerly one of Singapore's top marine fuel suppliers, has been wound up.
