HSBC Holdings is suing the Lim family and an employee of bankrupt oil trader Hin Leong Trading to recover US$85.3 million (S$115.7 million) of US$111.7 million that they allegedly obtained with bogus invoices and forged documents, according to court papers seen by The Straits Times.
HSBC, the firm’s largest creditor with about US$600 million owing, is the first bank to take legal action against oil tycoon Lim Oon Kuin, better known as O.K. Lim, and his two children to recover its losses.
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