Founder of People's Voice party, Lim Tean, has a major hindrance to his general election ambition removed.

Repaid money owed

The opposition party leader has successfully repaid more than S$200,000 owed to a Chinese businessman, Huang Min.

As a result of the repayment, Huang withdrew the bankruptcy application he had filed against Lim.

Lim sent two cheques to Huang to pay the sum and settle other costs on Jan. 16.

The cheques were cleared earlier this week, Today reported.

A hearing has been scheduled on Monday, Feb. 18 to sort out the withdrawal of the bankruptcy application.

Can run for GE

The withdrawal of the bankruptcy application clears the way for Lim to take part in the next general election due by early 2021.

Undischarged bankrupts are not allowed to contest in an election.

Lim was previously the secretary-general of the National Solidarity Party between 2015 and 2017.

He founded People’s Voice and had it registered as the country’s 11th political party on Oct. 31, 2018.

How Lim ended up owing money to Huang

Lim was operating an iron ore mine in Central Sulawesi.

Huang was a potential customer.

He agreed to provide a US$150,000 loan to Lim on Sept. 13, 2013.

Both men signed an agreement. Repayment of the money was stipulated to be made by Nov. 30 the same year.

State Court ordered repayment

Lim was first ordered to repay Huang last August by the State Court’s deputy registrar.

But Huang was unable to get his money back from Lim even with this order from the State Court.

Huang then initiated bankruptcy proceedings against Lim in December 2018.

Lim appealed

Lim appealed but a district judge reaffirmed the decision on Nov. 22.

Lim represented himself as he is a lawyer.

He claimed he received the money as a downpayment for a cargo of iron ore that Huang's company wanted to buy.

Lim appealed to the High Court to contest the lower court’s order.

But he withdrew the appeal on Jan. 15.

The cheques were issued the day after.

After adding in interest, Huang's loan repayment amount came up to S$158,105.06.

Lim had to fork out S$9,717.28 to settle legal costs.

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