Hin leong family. May 22, 2021 · SINGAPORE - The judicial managers (JMs) of insolvent Hin Leong Trading have scored a legal victory in the High Court to freeze the Lim family's assets worldwide in their bid to recoup US$3. Founder Lim Oon Kuin – better known as OK Lim – was declared a bankrupt and also jailed 17 years. Hin Leong was wound up in March after May 24, 2021 · A Singapore court has approved a freeze on up to $3. 5 billion of assets of the family behind collapsed Hin Leong Trading, boosting the prospect of debt recovery from the former oil trading empire that counts some of the world's biggest banks among its creditors. . 76 billion to the court-appointed liquidators of the Hin Leong and to HSBC, the company’s biggest creditor, after the civil trial ended. From its inception on 25 July 1973 until 17 April 2020, Mr Lim was its managing director (GD at [1]). 2 million in Jun 9, 2021 · SINGAPORE - Six residential properties in Singapore and three in Australia belonging to the Lim family behind insolvent Hin Leong Trading are among assets frozen by the High Court to recoup US$3. K. The judgment was reached as Lim and his children, Lim Huey Ching and Evan Lim Chee Meng, announced their intention to file for bankruptcy due to insufficient assets. Utilizing TTO tools could have provided Hin Leong with better tracking and transparency in their trade financing operations. Hin Leong sustained net losses of about US$808. Jul 18, 2025 · Lead counsel for the liquidators, Drew & Napier's chief executive officer and Senior Counsel Cavinder Bull, had stated in his opening statement that the family had deliberately concealed Hin Leong Aug 10, 2023 · The liquidators also alleged that the Lim family had breached their fiduciary duties as directors and engaged in fraudulent trading. Here’s how it all went south for the once-iconic oil trader and the Lim family: The collapse of Hin Leong Trading in 2020 led to a mass sell-off of the Lim family’s assets, including a large fleet of tankers, an oil storage terminal in Singapore and private luxury homes. Sep 30, 2024 · SINGAPORE – In a surprising twist, Hin Leong founder Lim Oon Kuin and his two children, Evan Lim Chee Meng and Lim Huey Ching, have agreed to pay US$3. His two children, Lim Huey Ching and Lim Chee Meng, both directors of the company, have also been issued with a bankruptcy order, according to a government gazette. 5 May 25, 2021 · A Singapore court has approved a freeze on up to $3. 5 billion) to the Jan 2, 2025 · In September, Lim and his children agreed to pay a court judgment sought by Hin Leong's creditors, who wanted to hold the family responsible for the balance of the firm's unsecured debt. 5 Nov 3, 2023 · SINGAPORE - Hin Leong Trading founder Lim Oon Kuin, also known as O. Aug 10, 2023 · The liquidators also alleged that the Lim family had breached their fiduciary duties as directors and engaged in fraudulent trading. Lim, said it was “not very correct” to describe his two children as the most senior people in the company after him in Dec 30, 2024 · In September, he and his children agreed to pay S$4. Sep 30, 2024 · SINGAPORE – In a surprising twist, Hin Leong founder Lim Oon Kuin and his two children, Evan Lim Chee Meng and Lim Huey Ching, have agreed to pay US$3. The family had deliberately concealed Hin Leong's losses and portrayed the company as profitable when it was, in fact, "massively insolvent". 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 6 days ago · Mr Lim founded Hin Leong Trading (Pte) Ltd (“HLT”), a major oil trading company incorporated in Singapore. 5 billion) to the Dec 31, 2024 · THE founder of the now-collapsed Singapore -based oil trader Hin Leong, Lim Oon Kuin, has been declared bankrupt. Dec 27, 2024 · As his business and family grew, Lim's son, Lim Chee Meng, ran Hin Leong's shipping arm Ocean Tankers, which had a fleet of more than 130 tankers. 2 million in Mar 1, 2021 · Other assets being sold include the family’s stake in Universal Terminal and a lubricant plant in Singapore. Oct 7, 2025 · The family’s financial house of cards collapsed spectacularly, leaving creditors scrambling and regulators scrambling to reassess oversight mechanisms. Jan 7, 2025 · ONCE a giant in Singapore’s oil trading industry, the collapse of Hin Leong Trading (HLT) exposed a web of fraud, forgery and financial mismanagement. Oct 1, 2024 · According to news reports, the Lim family consented to the judgment against them, marking a significant victory for the liquidators of Lim's defunct company, Hin Leong Trading. 5 billion (S$4. Last month, judicial managers filed to wind up Hin Leong, nearly a year after what was once one of Asia’s top oil traders racked up some US$4 billion in debt and entered court restructuring. fwl owzeo amjvunkc erj fbwn rggr hvujvriv ksuv uagm wvirkd