Source: Business Times Article Date: 28 Dec 2024 Author: Tay Peck Gek This comes after the family agreed to pay US$3.5b to the court-appointed liquidators of the company and top creditor HSBC. Hin Leong’s founder Lim Oon Kuin and…
There was a lower than expected number of business insolvencies recorded during 2024 as upward trends towards the end of the year slowed, new figures published by accountancy firm PwC shows. During the course of 2024, PwC had been projecting there to be over 900 business insolvencies recorded by the end of the year. However,…
Elon Musk, Tesla CEO and tech billionaire, has recently expressed concerns about the US economy, warning that the nation could face bankruptcy “super fast” without significant intervention. Musk made the comments on The Joe Rogan Experience, voicing concerns about the US national debt which has reached a staggering $36.17 trillion and the growing burden of…
The court has declared the Zeeland transhipment company Bulk Terminal Zeeland (BTZ) bankrupt. The company, which operated a transhipment terminal in Quarleshaven in Vlissingen-Oost, recently had to shut down due to suspicions of involvement in drug trafficking. Last week, it became evident that bankruptcy was imminent. The company was granted a moratorium on payments, a…
Former tycoon Lim Oon Kuin has been declared bankrupt in Singapore, following the collapse of his oil trading empire. The name of the founder of Hin Leong Trading Pte. and his children Lim Huey Ching and Lim Chee Meng were listed as having been issued a bankruptcy order on Dec. 19, the government gazetteshowed. The…
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Jakarta – Indonesian textile giant Sri Rejeki Isman is contesting a court decision that declared it bankrupt as the company owner pledges to keep its factory open and see through the revival of the business. Sritex, as the company is more commonly known, filed an appeal on Oct 25, requesting a review of the local…
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