The liquidators of Lim’s oil trading company seek to recover S$4.7 billion to pay off creditors. The 81-year-old tycoon, more popularly known as OK Lim, founded Hin Leong Trading and was once among the richest people in Singapore. Liquidators for Hin Leong now seek an order for the three to pay S$4.7 billion, the full amount of the firm’s unsecured debts as of April 2020. Hin Leong went into compulsory liquidation in 2020, with independent accounting firm PricewaterhouseCoopers (PwC) overseeing the restructuring of Hin Leong’s debt. The endeavour to recover debts owed by Lim’s company is considered the largest legal case in living memory in Singapore.

Source: Forbes August 12, 2023 12:15 UTC