Troubled Hin Leong's Ocean Tankers granted interim judicial management

SINGAPORE's largest oil tanker operator Ocean Tankers Pte Ltd, part of the troubled Hin Leong empire, was granted interim judicial management (IJM) by the Singapore High Court on Tuesday.

The Business Times understands that the court has appointed Ernst & Young's Angela Ee and Purandar Rao as the interim judicial managers for the shipping giant.

Based on court documents, Ocean Tankers is exposed to claims that could hit US$2.07 billion; these involve bills of lading after Hin Leong Trading (HLT), its sister company, hit troubled waters.