EY execs in Singapore become interim judicial managers of Ocean Tankers

Two Singapore-based executives at accounting and consulting firm EY have been appointed interim judicial managers of Ocean Tankers, the accounting firm said on Tuesday May 12th. The statement came following a Singapore court hearing to consider the shipping company’s request to appoint independent managers.

Ocean Tankers Pte Ltd is owned by the Lim family, which also owns Singapore-based oil trader Hin Leong Trading Pte Ltd. That company was placed under judicial management in April.

Lim Chee Meng, director at Ocean Tankers and Hin Leong Trading (HLT), said in a court filing dated May 11th that the shipping firm could continue to operate under judicial management, though HLT’s financial difficulties could have an impact on its business in due course.