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Hin Leong Trading to be formally shut down

March 09, 2021 Hin Leong collapsed in 2020 after a default exposed years of hidden losses and alleged fraud by founder Lim Oon Kuin. Reuters and The Straits Times file SINGAPORE - The High Court has given the green light for the winding up of Hin Leong Trading, marking the end of the road for the collapsed oil trading giant after nearly a year of restructuring. In a hearing on Monday morning (March 8) before High Court Justice Kannan Ramesh, judicial managers Goh Thien Phong and Chan Kheng Tek of PricewaterhouseCoopers (PwC) Advisory Services were appointed liquidators of Hin Leong. They had applied for Hin Leong to be wound up after three potential bidders walked away from a deal to buy Hin Leong and two related companies as a combined entity.

Hin Leong Trading, once one of Asia s top oil traders, to be wound up

Hin Leong Trading, once one of Asia s top oil traders, to be wound up
straitstimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from straitstimes.com Daily Mail and Mail on Sunday newspapers.

Brunei presides over first-ever virtual trial in new normal

BANDAR SERI BEGAWAN, March 1 (Borneo Bulletin/ANN): In a historic first in response to the ‘new normal’ environment of the Covid-19 pandemic, the Brunei High Court awarded a Malaysian company MYR4,106,938.42 in a claim against a Brunei company after a trial was conducted virtually over a week in October 2020. On February 26, the High Court awarded the Malaysian company over MYR4 million in its claim against the Brunei company after the full trial was conducted virtually. The Malaysian company’s initial claim against the Brunei company was for MYR7,821,855.41. The award to the Malaysian company is for recovery of unjust benefits gained by the local company at the expense of the Malaysian company, as a result of the local company’s failure to pay the Malaysian company for work provided between December 2014 to October 2015, arising from a multimillion dollar subcontract between the Brunei company and another company in the oil and gas industry. The local comp

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