The auditor is not liable for trading losses incurred by the company from November 2015 to mid-April 2020
[SINGAPORE] The apex court of Singapore has struck out insolvent oil trader Hin Leong Trading’s largest claim of US$2.6 billion against its former external auditor.
A five-judge Court of Appeal on Thursday (Jul 16) allowed an appeal by Deloitte & Touche that arose from a pre-trial application to strike out Hin Leong’s claim for trading losses.
The decision leaves Hin Leong with two remaining claims: