Latest news with #InsolvencyDivision
Sinar Daily
03-07-2025
- Business
- Sinar Daily
Jovian Mandagie declared bankrupt over RM5.28 million ‘friendly loan'
The bankruptcy order was issued by senior assistant registrar Muhammad Faisal Zulkifli after allowing a creditor's petition filed by Cekap Air Sdn Bhd on Nov 20, last year. 03 Jul 2025 05:26pm The High Court (Insolvency Division) declared fashion designer Datuk Jovian Mandagie bankrupt for failing to repay a "friendly loan" totalling RM5.28 million to an engineering and construction firm. - Photo: FACEBOOK / JOVIAN MANDAGIE KUALA LUMPUR – The High Court (Insolvency Division) today declared fashion designer Datuk Jovian Mandagie bankrupt for failing to repay a "friendly loan" totalling RM5.28 million to an engineering and construction firm. The bankruptcy order was issued by senior assistant registrar Muhammad Faisal Zulkifli after allowing a creditor's petition filed by Cekap Air Sdn Bhd on Nov 20, last year. According to the petition, Jovian who is the former son-in-law of former prime minister Datuk Seri Ismail Sabri Yaakob had failed to comply with a bankruptcy notice dated May 21, 2023, thereby committing an act of bankruptcy within six months prior to the filing of the petition. The company stated that the total amount owed, including interest as of that date, was RM5,284,340.66. This was based on a summary judgment granted by the High Court on April 2, the same year through the main civil suit. Lawyer Siti Nur Athirazatti Rohizad who represented Cekap Air said the bankruptcy notice was filed after Jovian failed to comply with the terms of the summary judgement. This was followed by the filing of a creditor's petition, which was allowed, by the court today. The High Court (Insolvency Division) declared fashion designer Datuk Jovian Mandagie bankrupt for failing to repay a "friendly loan" totalling RM5.28 million to an engineering and construction firm. "Jovian had also filed applications to stay and set aside both the notice and the petition, but all were dismissed by the court," she said. On May 16, 2023, Cekap Air sued Jovian claiming that he had failed to repay a RM5 million loan made through a verbal agreement (friendly basis) on Feb 25, 2022. In its statement of claim, the company said the funds were transferred to the client account of a law firm representing Jovian, with the firm confirming receipt of the funds on his instruction. Jovian has filed an appeal against the summary judgment, which is scheduled for hearing on Sept 15. - AWANI More Like This
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New Straits Times
03-07-2025
- Business
- New Straits Times
[UPDATED]: High Court declares Jovian bankrupt after loan dispute
KUALA LUMPUR: Fashion designer Datuk Jovian Mandagie was today declared bankrupt by the High Court (Insolvency Division) for failing to repay a "friendly loan" amounting to RM5.28 million to an engineering and construction company. Senior assistant registrar Muhammad Faisal Zulkifli made the ruling during proceedings today after allowing a creditor's petition filed by Cekap Air Sdn Bhd on Nov 20 last year. According to the petition, Jovian, the former son-in-law of former prime minister Datuk Seri Ismail Sabri Yaakob, had committed an act of bankruptcy within six months prior to the filing of the petition by failing to comply with a bankruptcy notice dated May 21, 2023. The petition said that Jovian owed Cekap Air RM5,284,340.66, inclusive of interest as of May 21 last year, which was the sum payable under a summary judgment granted by the High Court on April 2, 2023. Cekap Air's lawyer, Siti Nur Athirazatti Rohizad, said the bankruptcy notice was filed after Jovian failed to comply with the terms of the summary judgment. A summary judgment is a legal application filed by the plaintiff to obtain a court order without the need for a full trial. She said that upon receiving leave to issue the bankruptcy notice, her client filed the creditor's petition, which the court allowed today. "Jovian had filed applications to set aside and stay the bankruptcy notice and the creditor's petition, but all were dismissed by the court," she said. On April 2 last year, the High Court ordered Jovian to repay RM5 million to Cekap Air after allowing the company's summary judgment application. On May 16, 2023, the company filed a lawsuit against Jovian, alleging that he had failed to repay a RM5 million loan extended on a friendly basis. In its statement of claim, Cekap Air said Jovian was an acquaintance of its director, Yong Zhen Wei. The company claimed it loaned RM5 million to Jovian following a verbal request by the designer on Feb 25, 2022, and subsequently transferred the amount into the client account of a law firm representing him. Cekap Air added that the law firm had confirmed receipt of the funds on Jovian's instruction. Jovian's appeal against the summary judgment in the main suit is scheduled to be heard on Sept 15.
