Application filed to bar Yang Yin from liquidating insurance policies

SINGAPORE — The niece of wealthy widow Chung Khin Chun has filed an application to appeal against the High Court’s decision to allow former tour guide Yang Yin to liquidate two life insurance policies for his legal and personal expenses.

Yang, 41, is being sued by Madam Hedy Mok for loss and damages arising from his alleged breach of duties under a legal document that gave him control of her 88-year-old aunt’s assets.

Yang, a Chinese national, had his assets frozen last August via a Mareva injunction, which prevents him from disposing any assets in Singapore and overseas.

In a closed-door hearing on April 13, Justice Judith Prakash allowed Yang’s application to liquidate two life insurance policies worth S$98,000 to pay for his legal fees.

However, Justice Prakash did not allow funds from Yang’s OCBC bank accounts to be released.

Mdm Mok, 61, who owns a travel agency, had opposed the liquidation of Yang’s insurance policies, arguing that they should be part of Mdm Chung’s estate.

A hearing will be held on May 5 to determine if Mdm Mok’s application will be granted.

Yang has been in remand since Oct 31 last year for a separate criminal case against him.

He faces more than 300 charges for various offences, including faking receipts of his music and dance school.