SINGAPORE, Dec 28 — Former oil magnate Lim Oon Kuin, commonly known as OK Lim, and his two children, Lim Huey Ching and Evan Lim Chee Meng, have been declared bankrupt, according to the Singapore government gazette published yesterday.
Channel News Asia (CNA) reported that the declaration follows their consent in September to a court judgment requiring them to pay US$3.5 billion (RM15.5 billion), a sum equivalent to the unsecured debts of Hin Leong Trading as of April 2020. Hin Leong, once one of Asia’s largest oil traders, is now in compulsory liquidation.
The bankruptcy order, effective from December 19, was formalised after the family acknowledged they lacked sufficient assets to settle…
