Legal tussles snarl millions in oil from Hin Leong deals

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[SINGAPORE] Millions of dollars of oil stored in tanks and ships in Asia and Europe has become caught in a web of lawsuits related to trade and financing deals by Singapore's Hin Leong Trading, according to court documents and shipping data. Read more at The Business Times.

Hin Leong and PwC did not immediately respond to emailed requests for comment. A spokesperson for Rajah & Tann, legal advisor to the interim judicial managers, declined comment.

Unipec Singapore, the trading arm of Asia's largest refiner Sinopec, has sought delivery of diesel aboard the three tankers - very large crude carrier Qi Lian San and two Aframax-sized ships Ocean Voyager and Ocean Taipan - under sales contracts with Hin Leong, PwC said. Davinder Singh Chambers, the Lim family's legal advisor, and nTan Corporate Advisory, its financial advisors, did not immediately respond to emailed requests for comment.

 

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