The High Court has found Goh Jin Hian, a former director of insolvent marine fuel supplier Inter-Pacific Petroleum (IPP), liable for breach of director’s duties, statutory duties and losses suffered by the firm amounting to US$146 million (S$196 million) plus interest.
"An honest and reasonably diligent director would have persisted and probed further," said the judge of Goh Jin Hian's lack of action amid the company's financial troubles.
Singapore Ex-PM's Son Found Liable for Millions Lost by Company bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
Former IPP director Goh Jin Hian liable for US$146 million losses suffered by company: High Court businesstimes.com.sg - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstimes.com.sg Daily Mail and Mail on Sunday newspapers.