вЂњIn that ill-advised attempt to seek a different outcome, the Lims repackaged what were essentially the same arguments raised before the judge,вЂќ the appeal court judge said. Separately, the elder Lim also faces criminal charges for fraudulent disbursements.Д«efore the companies were liquidated, Ocean Tankers, through the interim judicial managers, successfully sued Lim and his children for breaching their fiduciary duties as firm directors, but they appealed against the ruling.

The elder Lim, his children and their lawyer could not be immediately reached for comment. LimвЂ™s son, Lim Chee Meng Evan, is also a director. The denial comes more than a year after the lawsuit was filed by the court-appointed managers for Ocean Tankers, owned by Lim and his daughter Lim Huey Ching, directors of the company. вЂњThe entire conduct of this litigation has led to an immensely unsatisfactory state of affairs,вЂќ Judge Andrew Phang Boon Leong of the Court of Appeal said in a judgment released on Thursday. Lim is the founder of defunct Hin Leong Trading Pte Ltd and Ocean Tankers, once one of AsiaвЂ™s largest oil trading andВ shippingВ firms, which both went under judicial management in 2020, after oil prices collapsed. SINGAPORE, Oct 28 (Reuters) вЂ“ SingaporeвЂ™s highest court has dismissed an appeal by oil tycoon Lim Oon Kuin and his two children after they were successfully sued for breach of fiduciary duties by the court-appointed managers of a company they once owned.

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