Chitchat Hin Leong's OK Lim Appears Unwell in Court Hearing

[Pinkieslut]

Singapore’s OK Lim faces liquidators, banks in $3.5 billion case​

Bloomberg
Thu, 10 August 2023 at 4:30 am GMT+1·1-min read

Founder of collapsed oil trading firm Hin Leong Trading Pte Ltd, Lim Oon Kuin, better known as O.K. Lim, leaves the State Courts in Singapore April 30, 2021. REUTERS/Edgar Su REFILE - CORRECTING ACTION
By Low De Wei
(Bloomberg) — Former tycoon Lim Oon Kuin and his children are set to face the liquidators of his collapsed oil trading empire in a civil lawsuit trial that kicks off Thursday in Singapore.
Hin Leong Trading Pte. and its court-appointed managers are suing the Lims as they seek to recover funds to pay more than 20 bank creditors including HSBC Holdings Plc and DBS Group Holdings Ltd. HSBC’s suit against the Lims is also set to get underway on Thursday in a case alleging conspiracy and fraudulent misrepresentation.

The lenders combined are owed about $3.5 billion after Hin Leong failed under a cloud of alleged fraud and hidden losses about three years ago. OK Lim, as the 81-year-old businessman is popularly known, is separately facing multiple charges of cheating and forgery brought by prosecutors. He pleaded not guilty in a trial earlier this year with the verdict yet to be announced.
Lim’s family, including his children Evan Lim Chee Meng and Lim Huey Ching, had as much as $3.5 billion of assets worldwide frozen by the Singapore High Court in 2021. The children were both directors of Hin Leong.
Hin Leong’s liquidators are PricewaterhouseCoopers LLP’s Chan Kheng Tek and GTP Advisory PAC’s Goh Thien Phong. They are represented by lawyers from Drew & Napier LLC led by Cavinder Bull. Davinder Singh from Davinder Singh Chambers LLC is leading Lim’s defense.

 

[syed putra]

What can you do when price of oil suddenly dropped to USD 20 / bbl.

 

[SinkieExile]

He's already 81. Highly unlikely he will ever see time behind bars at all. Whatever money he had probably all scattered to the four winds under his extended family's names. Welp, at least he lived a rich life when alive.

 

[dredd]

Sadly, OK Lim is not OK anymore...

 

[blackmondy]

He's the smartest businessman in sinkieland, enjoying an opulent lifestyle with other people's money.

 

[bobby]

Tiagong solid PAP grassroots leader….

 

[batman1]

When win the case will be OK.

 

[Balls2U]

Sadly, OK Lim is not OK anymore...

He's KO!

 

[congo9]

He have made a pile and lived a full long life. If the crude oil price had risen back to 80 or 90 USD per barrel, he would have turn the tide and laughing and singing inside his GCB.

Peasant, are you ok ?

 

[ChinaCommunistSG]

Edwin Tong to take over this case

 

[congo9]

How long can he be send to jail，the money has spread to his descendent.

Maybe a few hundred million trust had been set up for his family. All no need to work for 2 generation.

 

[Reddog]

Whatever.
End life as a loser is pathetic.
.

 

[Scrooball (clone)]

This 老不死 ain't no frail and gullible senior. It's a masterplan that took years to plan and perfect. He didn't just do it once either.

 

[ChinaCommunistSG]

How long can he be send to jail，the money has spread to his descendent.

Maybe a few hundred million trust had been set up for his family. All no need to work for 2 generation.

OK will admit all the charges as long as their children are not charged.

 

[batman1]

Once he win the case he will become well n healthy n walking around n travelling. 555

 

[Pinkieslut]

Once he win the case he will become well n healthy n walking around n travelling. 555

Probably celebrating with ATBs at Tiananmen