Hin Leong's judicial managers win bid to freeze global assets of Lim family

Hin Leong founder Lim Oon Kuin, better known as O.K. Lim, on September 25, 2020.
Hin Leong founder Lim Oon Kuin, better known as O.K. Lim, on September 25, 2020.PHOTO: ST FILE

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$3.5 billion (S$4.66 billion) of debt from the collapsed oil trader.

The Mareva injunction application, filed by judicial managers turned liquidators Goh Thien Phong and Chan Kheng Tek of PricewaterhouseCoopers (PwC), covers the Lim family's assets from real estate in Singapore and Australia to club memberships, insurance policies, shares, cash and investments.

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