Debt-ridden Hin Leong acts to cede control to PwC
This development comes as Hin Leong’s founding family reportedly withdrew its application for debt restructuring and comes amid revelations about big futures losses and a police probe. PwC has been appointed as the interim judicial manager
The appointment of a judicial manager effectively takes control of the company away from the Lim family. Lenders are said to have lost confidence in the family and have sought to restrict the control they have over the restructuring process
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