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Hin Leong under interim judicial management
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Hin Leong owes $3.8 billion to 23 banks.
PHOTO: REUTERS
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Singapore's Hin Leong Trading, one of Asia's top oil traders, has been placed under the management of a court-appointed supervisor as it seeks to restructure billions of dollars of debt, three sources with knowledge of the matter said yesterday.
Hin Leong had applied last week to be placed under interim judicial management, and withdrew an application it had made to the Singapore High Court for legal protection for six months from creditors, two other sources said last Friday.
