Singapore courtroom approves transfer to freeze Hin Leong’s founder’s belongings

© Reuters. FILE PHOTO: Founding father of collapsed oil buying and selling agency Hin Leong Buying and selling Pte Ltd, Lim Oon Kuin, higher referred to as O.Ok. Lim, arrives on the State Courts in Singapore April 30, 2021. REUTERS/Edgar Su By Anshuman Daga and Jessica Jaganathan SINGAPORE (Reuters) – Singapore’s Excessive Courtroom has accepted



© Reuters. FILE PHOTO: Founding father of collapsed oil buying and selling agency Hin Leong Buying and selling Pte Ltd, Lim Oon Kuin, higher referred to as O.Ok. Lim, arrives on the State Courts in Singapore April 30, 2021. REUTERS/Edgar Su

By Anshuman Daga and Jessica Jaganathan

SINGAPORE (Reuters) – Singapore’s Excessive Courtroom has accepted a request to freeze as much as $3.5 billion of worldwide belongings of Lim Oon Kuin and his two youngsters following the collapse of Lim’s oil buying and selling agency Hin Leong Buying and selling Pte Ltd, the corporate’s liquidators advised collectors in an e mail reviewed by Reuters.

Courtroom-appointed liquidators of Hin Leong, the Lim household and their legal professionals, didn’t instantly reply to requests for touch upon Monday. The Singapore Excessive Courtroom declined to remark.

“Our legal professionals will probably be following up with the following steps within the subsequent few days together with to require the Lim Household to reveal their belongings on affidavit,” Goh Thien Phong, one of many liquidators wrote within the e mail despatched on Friday to greater than 200 collectors of Hin Leong.

The liquidators had requested the Singapore courtroom to freeze the household’s belongings worldwide, from multi-million-dollar properties to shares, funds and nation membership memberships to get better cash owed to just about two dozen banks and different collectors globally.

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