Hin Leong's Lim family fail in bids against court-appointed managers

Singapore

THE liquidators of failed Hin Leong Trading have scored a big win in their bid to recoup mega bucks from scandal-hit tycoon Lim Oon Kuin and his children of the Hin Leong group, one of Asia's largest oil services firms.

The Singapore High Court last Friday issued an oral judgment in favour of the liquidators' application for a Mareva injunction to freeze as much as US$3.5 billion of the Lim family's assets worldwide, which include properties in Singapore and Australia, shares, insurance policies and club memberships, The Business Times understands.