Court action is under way to force embattled oil tycoon Lim Oon Kuin and his two children to repay US$3.5 billion (S$4.8 billion) in debt and $90 million in dividends that they allegedly paid themselves even though their company was insolvent. The legal action has been instigated by PricewaterhouseCoopers Advisory Services, the judicial manager of the insolvent company, Hin Leong Trading.

Court documents seen by The Straits Times show that judicial managers Goh Thien Phong and Chan Kheng Tek have accused Lim, his son Evan Lim Chee Meng and his daughter Lim Huey Ching of fraudulent trading and breaching their fiduciary duties as directors.