Financial woes have seemingly beset opposition leader Lim Tean of late, what with his appeal against the issuance of a writ of summons over a reportedly unpaid loan of US$150,000 (S$205,720) on Tuesday, December 18. It has also come to light that a bankruptcy application has been filed against him.
Huang Min allegedly loaned Lim the money in September 2013, with the agreement that Lim would pay him back two months later, by November 30. Court documents showed that while Huang did indeed lend the money to Lim, the latter apparently failed to return the money by the date agreed upon.
The States Court determined in August of this year that Lim should repay Huang, prompting Lim to appeal to the High Court, since he denied Huang’s allegations, saying that Huang had intended to buy iron ore from Lim’s mine in Indonesia, with the disputed amount to be used as a down payment on the purchase, and saying that Huang had asked for the payment to be termed as a loan “for his own internal purposes.”
However, District Judge Tan May Tee ruled that upon examination of the documents Lim provided, “they were inadequate to support the defendant’s assertion that the sum of US$150,000 was a down payment for the sale of iron ore to the plaintiff’s company.” She also cited that from an email Lim had written, it was clear he admitted that Huang had lent him the money.
Huang, as the creditor in the matter, has since filed a bankruptcy application for Lim, which is permissible under Singaporean law, provided that the amount in dispute is not under S$15,000. However, when one is facing undischarged bankruptcy charges, one is disallowed from contesting in an election.
TODAY reported that Huang, a Shanghai-based Chinese national, had filed the application to the High Court through his legal representatives last Friday, December 14, due to the failure of Lim to repay his debt.
Lim made a statement regarding the matter on his Facebook page.
Here is the text of Lim’s post in full:
“Mr Huang Min can file whatever he wants . It is ridiculous to suggest I will allow myself to be bankrupted. This is a private dispute which you are taking an inordinate interest in to distract from the pressing issues faced by Singaporeans such as CPF, HDB, cost of living and Astronomical Ministerial Salaries. The decision from the State Court is on appeal to the High Court and I intend to succeed on appeal I am a lawyer and know full well how to protect my own rights.
I demand this full statement to be published. If not I will publish it myself. I will not be speaking to the State Media further on this personal legal dispute. Do your job and bring up important issues and not trivial ones”.
My friends, the above is a statement I made to the TODAY newspaper who hounded me today with the ridiculous suggestion that I was going to be made a bankrupt because of the civil dispute I am involved in. As you know the matter is still ongoing and I intend to allow the law to take its course. The State Media and PAP IBs are happily playing up this matter to distract Singaporeans from the disastrous policies of the PAP which are causing Singaporeans so much hardship. I intend to keep speaking up for my fellow countrymen.
I thank all of you who have expressed your support for me but I want to assure you I am thoroughly capable of taking care of the situation.
I have never depended on a Government job to make a living and I have never needed an iron rice bowl. After 17 years of TOP legal practice, I ventured into mining in Indonesia. My company became the first company in Sulawesi to produce and ship iron-ore. Many people said I couldn’t do it because I had no mining experience but I proved them wrong. In private business, there will often be disputes which is why we have the legal process. I have every faith in the legal system of which I am part of and have been for over 20 years of my life.
It is not difficult to understand why this issue is now being brought up. It is because Peoples Voice, the Party I founded is the fastest growing movement in Singapore. After only being registered for 2 months, we already have thousands of members and followers!
I do not intend to address this personal issue of mine any further. When I next speak on a substantive matter not related to this, the whole world will take notice.