Xihe Group News Today : Breaking News, Live Updates & Top Stories | Vimarsana

A Singapore court has approved a freeze on up to $3.5 billion of assets of the family behind collapsed Hin Leong Trading Pte Ltd…

Hin Leong action paves way for continued strength in Singapore bunker market Singapore’s marine fuel market has remained resilient since the collapse of oil trader Hin Leong in 2020, with the latest action involving the freezing of assets belonging to its founder Oon Kuin Lim and his two children reflecting the stern action taken against industry malpractices, reposing faith in the local bunker market and reinforcing its commitment to transparency, industry sources told S&P Global Platts. “This [the Hin Leong case] is a very relevant issue; sadly our industry has been plagued by bankruptc...

Asia PacificLim family's global assets on radar after Singapore court move Anshuman DagaJessica Jaganathan 4 minute read Founder of collapsed oil trading firm Hin Leong Trading Pte Ltd, Lim Oon Kuin, better known as O.K. Lim, arrives at the State Courts in Singapore April 30, 2021. REUTERS/Edgar Su A Singapore court has approved a freeze on up to $3.5 billion of assets of the family behind collapsed Hin Leong Trading Pte Ltd, boosting the prospect of debt recovery from the former oil trading empire that counts some of the world's biggest banks among its creditors. Hin Leong was wound up in M...

Singapore freezes US$3.5bn of global Lim family assets Bloomberg Singapore’s High Court approved a request to freeze as much as US$3.5 billion of assets worldwide belonging to the founding family of collapsed oil trader Hin Leong Trading Pte Ltd (興隆貿易) in a move that might be one of the biggest such injunctions in the city-state’s history. Lim Oon Kuin (林恩強) and his family are to be asked by lawyers representing liquidator Goh Thien Phong (吳天芳) to disclose their assets to the court in the next few days, according to an e-mail seen by Bloomberg News that was sent to cre...

A Singapore court has approved a freeze on up to $3.5 billion of assets of the family behind collapsed Hin Leong Trading Pte Ltd…