SINGAPORE (BLOOMBERG) – Hin Leong Buying and selling, less than judicial professionals from PricewaterhouseCoopers (PwC), has built an application to freeze property, shares and funds held by its founder Lim Oon Kuin and his two children as attempts to recoup US$3.5 billion (S$4.6 billion) of debt from the collapsed oil trader go on.
PwC is searching for to block the sale of any personal homes and removing of assets from the town condition, amid other actions, court docket filings demonstrate. The application was determined by a actual risk of asset dissipation, even as its judicial professionals designed development with the sale of belongings such as Universal Terminal.
Far more than 20 banks are battling to recover billions of pounds in loans to the fabled trader immediately after wrong-way bets on Covid-19’s effect on oil selling prices unfurled hidden losses and alleged frauds. The fallout is nonetheless reverberating throughout world marketplaces,