More legal woes ahead for Hin Leong founder
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Lim Oon Kuin, seen in a September file photo, was charged with one count of abetment of forgery for the purpose of cheating relating to a fake CAO cargo sale. This was followed by an additional charge in September.
ST PHOTO: WONG KWAI CHOW
More legal woes are likely on the cards for the founder of insolvent Hin Leong Trading and his two children, who are now battling a growing number of lawsuits by bank creditors trying to recover more than US$3.5 billion (S$4.7 billion) from the firm.
This is after PricewaterhouseCoopers (PwC) Advisory Services, the judicial manager of the oil trading giant, filed suit to force oil tycoon Lim Oon Kuin, better known as OK Lim, and his two children to repay the US$3.5 billion debt and US$90 million in dividends that they allegedly paid themselves even though their company was insolvent.
