Hin Leong files for judicial management after bank lenders object to moratorium filing

A photo taken on July 11, 2019, shows Hin Leong's Pu Tuo San VLCC supertanker in the waters off Jurong Island in Singapore.
A photo taken on July 11, 2019, shows Hin Leong's Pu Tuo San VLCC supertanker in the waters off Jurong Island in Singapore.PHOTO: REUTERS

SINGAPORE -Cash-strapped oil trading giant Hin Leong has withdrawn its application for a debt moratorium on Tuesday (April 21) and instead sought for PricewaterhouseCoopers (PwC) LLP to be appointed its interim judicial manager, The Straits Times has learnt.

The about-turn came after several of Hin Leong Trading’s bank lenders with large exposure objected to its application for a six-month debt moratorium, according to sources citing documents.

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