Hin Leong Trading's judicial managers given more time to restructure troubled firm

THE Singapore High Court on Thursday granted a three-month extension on the judicial management order to restructure Singapore's troubled oil trader Hin Leong Trading (HLT), subject to certain conditions, sources said.

This follows an application by HLT's judicial managers (JMs) for more time, as the judicial management order granted at the beginning of August last year was set to expire on Feb 3, 2021.

Thursday's hearing before High Court Justice Kannan Ramesh also included two other applications by the Lim family of Hin Leong Group, including its founder Lim Oon Kuin, who are seeking to discharge both the JMs of HLT and Ocean Tankers Pte Ltd (OTPL), its troubled sister company and fleet manager. The Lim family are being represented by Davinder Singh Chambers LLC.