Asia/Pacific News
Hin Leong's OK Lim Returns to Court
Friday August 11, 2023
The trial of the civil lawsuit against Hin Leong founder OK Lim and his children has started in Singapore this week.
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, news agency Bloomberg reported this week.
The firm's more than 20 creditors, including HSBC, are owed a total of about $3.5 billion.
Hin Leong collapsed in 2020 in the wake of that year's crude-price crash and allegations of forged documents being used to secure funding from banks. The firm and its subsidiary Ocean Bunkering Services, formerly one of Singapore's top marine fuel suppliers, has been wound up.
