Hin Leong Trading (Pte.) Ltd, under judicial managers from PricewaterhouseCoopers, has made an application to freeze assets, shares and funds held by its founder Lim Oon Kuin and his two children as efforts to recoup USD 3.5 billion of debt from the collapsed oil trader continue.
The Singapore-based company is seeking to block the sale of any private properties and removal of assets from the city state among other measures, court filings show. The application was motivated by a real risk of asset dissipation, even as its judicial managers made progress with the sale of assets such as Universal Terminal.
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