Singapore Oil Mogul Declared Bankrupt After Empire Collapsed [Yahoo! Finance]
HSBC Holdings, plc. (HSBC)
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Source: Yahoo! Finance
Most Read from Bloomberg Migrant Crisis Pushed US Homelessness to Record High in 2024 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 gazette showed. The younger Lims were both directors at the company. Leow Quek Shiong and Seah Roh Lin of BDO Advisory Pte. Ltd. are the trustees, according to the gazette. At its peak, Hin Leong traded a range of oil products, made lubricants and operated loading terminals and storage facilities. But the downfall of the man widely known as OK Lim came in 2020, as Covid—19 sent oil prices into freefall. Hin Leong was accused of hiding more than $800 million in losses and leaving more than 20 banks with huge liabilities. Singapore's High Court in September approved the Lims' agreements to pay $3.59 billion to the liquidators of his collapsed firm and creditor HSBC Holdings Plc, ending the civil case against him.
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HSBC
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- 1/2/25 - Form 6-K
- 12/31/24 - Form 6-K
- 12/31/24 - Form 6-K
- HSBC's page on the SEC website