⁍ Members of Singapore’s Lim family have asked a court to stop law firm Rajah & Tann Singapore LLP (R&T) from working for court-appointed supervisors to two companies in the Lim’s embattled oil trading empire.


⁍ The actions are the latest in a series stemming from the collapse earlier this year of Hin Leong and Ocean Tankers.


⁍ Hin Leong is seeking to restructure billions of dollars of debt after a crash in oil prices revealed a massive, years long fraud at the once fabled trading house.


– The once-mighty Singapore oil trading empire once run by the Lim family has gone bankrupt—and now the family is fighting to keep a law firm from working for them, the New York Times reports. Evan Lim Chee Meng and his sister, Lim Huey Ching, are suing Rajah & Tann Singapore LLP (R&T) because they say the firm has a conflict of interest because it has been acting for Ocean Tankers and Hin Leong Trading since the companies went bankrupt earlier this year. R&T says it has “no legal or factual basis for the position now taken by the members of the Lim family purportedly acting as directors of the two companies,” per Reuters. Both companies were placed under court-appointed supervisors after a crash in oil prices revealed a massive, years-long fraud at the once fabled trading house. Hin Leong is seeking to restructure billions of dollars of debt after a crash in oil prices revealed a massive, years-long fraud at the once fabled trading house. In an affidavit, the Lims say R&T “possessed confidential information and documents that were at risk of being misused by the firm in its new role to benefit the supervisors, against the family’s interests.” They say R&T “to date refused to step down despite repeated requests to do so, which has necessitated this application.” The case will be heard on Aug. 11.



Source: https://www.reuters.com/article/us-singapore-oil-ocean-tankers/singapores-lim-family-seeks-to-halt-law-firm-from-taking-court-role-idUSKCN24Q0DM