PwC, two law firms could earn S$17m in fees to rescue troubled Hin Leong

Anita Gabriel

Published Wed, Sep 23, 2020 · 11:00 AM

PRICEWATERHOUSECOOPERS (PwC) and legal firms Rajah & Tann and Drew & Napier could pocket up to S$17.3 million in fees from the court-supervised bid to rescue debt-hit Hin Leong Trading (HLT), say court documents.

Some insolvency players say the sum (including actual and projected fees) is a sweet one for work on the case involving Singapore's largest oil trader that has been brought to its knees by an oil slump and fraud allegations.

Of the S$17.3 million, more than half - S$10 million - is charged to PwC Advisory Services, whose executives Goh Thien Phong and Chan Kheng Tek were appointed by the Singapore High Court as interim judici…