OK Lim's wife claiming half-share of S$33.4m GCB sale proceeds
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THE wife of Lim Oon Kuin has taken out legal proceedings against the liquidators of the oil trader Hin Leong Trading founded by her husband, claiming that she is entitled to a 50 per cent interest in a Good Class Bungalow (GCB) recently sold for S$33.39 million.
Tan Sook Eng filed an originating summons, naming the firm in compulsory liquidation and its 2 liquidators as defendants in the legal action launched on Oct 20.
She is seeking a declaration that she is the legal and beneficial owner of 50 per cent interest in the freehold bungalow on a plot of under 20,000 square feet in Second Avenue. Hence, she argues that she is entitled to be paid 50 per cent of the sale proceeds of the property less sale expenses and legal fees.
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