Hin Leong under interim judicial management

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.

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A version of this article appeared in the print edition of The Straits Times on April 28, 2020, with the headline Hin Leong under interim judicial management. Subscribe