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Ex PM Goh Chok Tong and SC Tan Choo Leng must be extremely sad to see his son Goh Jin Hian attending multiple civil and criminal court cases

Hightech88

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So this CB Kia needs to pay US$146M plus $332K. Think his whole family sell backside also will become bankrupt.

https://www.straitstimes.com/busine...n-hian-found-liable-for-company-s-196m-losses

The High Court has found that Goh Jin Hian, a former director of insolvent marine fuel supplier Inter-Pacific Petroleum (IPP), is not entitled to relief from liability to pay US$146 million (S$196 million) plus interest in compensation for losses suffered by the firm.

This is due to “the egregiousness of his breaches of duty, chief among which was his ignorance as to IPP’s cargo trading business”, Justice Aedit Abdullah said in his 170-page grounds of decision issued on July 11.

The judge found that Goh had failed to take “reasonable steps”, such as making necessary inquiries when various red flags relating to the firm’s financial position arose.

His breach of duty “entailed an extent of carelessness or imprudence that struck at the very heart of his duty of skill, care and diligence”, said the judge.

He also ordered Goh to pay costs of $332,545 plus $94,301 in disbursements.

The judge’s grounds of decision comes after Goh appealed against the ruling in February that found him liable for breach of director’s duties and statutory duties and losses suffered by IPP.

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JurongEast

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Dear @NanoSpeed
It seems now is the turn for Goh Jin Hian to take legal action against Inter Pacific Petroleum. Pls interpret

1723714777932.png
 

JurongEast

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View attachment 204309

CA means Court of Appeal lah. HC, other than Ho Ching, means High Court.

This is a Civil Case, and he is appealing against the decision of the HC that he must pay S$196m.

PTC is the Criminal Case of 丝绸之路, don't get confused.
thanks. While Goh Jin Hian is appealing his case, Inter Pacific Petroleum at the same time wants to know his assets value.
Seems both party now playing hard ball
 

JurongEast

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Date
29 Aug 2024, Thursday
2:30 PM
Add to calendar
Note: This is a one-time add. Any change of the schedule will not be automatically updated.

Venue
State Courts, State Court Towers, Court 24A
 

JurongEast

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Hearing details​

Nature of case
Criminal
Hearing type
Criminal - For Mention (Plead Guilty)
Charge number
DAC-915007-2023
Offence description
Securities and Futures Act (Cap 289, Rev Ed 2006) & others
Judge/Judicial officer
Principal District Judge Toh Han Li

Parties involved​

ACCUSED
Teo Thiam Chuan William
Representation
RAJAH & TANN SINGAPORE LLP (NG PEI QI; THONG CHEE KUN; Sia Jiazheng)
 

JurongEast

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SINGAPORE — Goh Jin Hian, the former chief executive officer of investment holding company New Silkroutes Group, was charged on Wednesday (Sept 20) with false trading offences.

The 54-year-old, who is the son of former Prime Minister Goh Chok Tong, was handed 39 charges under the Securities and Futures Act.
 

JurongEast

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He was charged along with three other men linked to New Silkroutes: Kelvyn Oo Cheong Kwan, 52, former executive director and chief corporate officer at New Silkroutes; 54-year-old William Teo Thiam Chuan, a former finance director at the group; and 40-year-old Huang Yiwen, a commercial market maker engaged by New Silkroutes.
 
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