Former Singapore Oil Mogul to Pay Liquidators, HSBC $3.6 Billion
- Lim and two children will file for personal bankruptcy
- Oil trader Hin Leong collapsed in 2020 with over 20 creditors
Singapore’s High Court approved former oil tycoon Lim Oon Kuin’s agreements to pay about $3.59 billion to the liquidators of his company and creditor HSBC Holdings Plc, ending the multi-year civil cases against him and his family.
The Lims didn’t admit liability. They will pay the sum with interest and costs in the consent judgments agreed in court proceedings on Monday. OK Lim and his children Evan Lim Chee Meng and Lim Huey Ching will file for bankruptcy, they said in separate statements.