SINGAPORE: The civil trial against billionaire Lim Oon Kuin and his son and daughter began on Aug 10 . The liquidators of Lim’s oil trading company seek to recover S$4.7 billion to pay off creditors.
Lim, along with his son Evan Lim Chee Meng and his daughter Lim Huey Ching, allegedly presented Hin Leong as profitable for many years to keep receiving financing despite posting losses, and liquidators now say that the Lim family must be held accountable. Liquidators for Hin Leong now seek an order for the three to pay S$4.7 billion, the full amount of the firm’s unsecured debts as of April 2020.
Source: News Formal (newsformal.com)
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