What does the assets freeze order mean for Hin Leong's Lim family and creditors?

Hin Leong founder O.K. Lim arriving at the State Courts on April 30, 2021.
Hin Leong founder O.K. Lim arriving at the State Courts on April 30, 2021.ST PHOTO: KELVIN CHNG

SINGAPORE - The judicial managers' legal win on Friday (May 21) is a significant development in the light of millions of dollars worth of assets the Lim family has sold in recent months. 

The injunction means that the Lim family will not be able to dispose or deal with their assets of up to US$3.5 billion (S$4.66 billion), except for certain exceptions such as expenditure for living expenses and legal fees.

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