Details of an order show that the family’s living expenses were capped at $10,000 a week for Hin Leong founder Lim Oon Kuin and his children.
Grace LeongSenior Business Correspondent
SINGAPORE – Six residential properties in Singapore and three in Australia belonging to the Lim family behind insolvent Hin Leong Trading are among assets frozen by the High Court to recoup US$3.5 billion (S$4.6 billion) of debt from the collapsed oil trader.
Judicial managers turned liquidators Goh Thien Phong and Chan Kheng Tek of PricewaterhouseCoopers (PwC) scored a legal victory in May to freeze the Lim family’s assets worldwide, up to a value of US$3.5 billion.
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