Alleged Losses of up to US$3.3 Billion at Hin Leong Trading – Another Major Bankruptcy in the Commodities Industry.
What went wrong and how can this be avoided? On 22nd April oil trading company Hing Leong Trading (HLT) filed for Judicial Management bankruptcy protection for itself and related companies in the Singapore courts. What at first was reported as being a potential $800 million loss is now looking like a much larger issue. It is a problem which started before the Covid 19 crisis and the ensuing turmoil in