KUALA LUMPUR: Fashion designer Datuk Jovian Mandagie has failed in his appeal to set aside a High Court order that declared him bankrupt for defaulting on a RM5mil friendly loan from a company.
Justice Jamhirah Ali dismissed Jovian's appeal after hearing submissions from parties in an in-chamber proceedings here on Friday (Feb 20).
The judge also dismissed Jovian's appeal to stay the decision and ordered for the fashion designer to pay RM10,000 in costs to Cekap Air Sdn Bhd, who is the judgment creditor.
Lawyer Siti Nur Athirazatti Rohizah, who represented the company, confirmed the matter when met by the press outside of the courtroom.
On July 3 last year, the High Court declared Jovian a bankrupt over his failure to settle the loan to the company during a hearing of the creditor's petition.
The creditors filed their petition on Nov 20, 2024.
According to documents obtained by the media, Cekap Air Sdn Bhd applied for the bankruptcy notice to be issued against Jovian, 40, after he failed to pay RM5,284,340.66, inclusive of interest, to the construction company.
On April 2, 2024, Justice Ahmad Fairuz Zainol Abidin issued a summary judgment against Jovian, ordering him to pay the loan.
The direct judgment was obtained when the Court decided the case through written submissions without a full trial.
In its statement of claim, the company said it had given out a loan of RM5mil to Jovian on Feb 25, 2022.
It stated that the loan was given out casually as the company’s director, Yong Zhen Wei, and Jovian were acquaintances.
The loan was meant to be repaid in 12 months.
"Furthermore, there was no reason for the plaintiff to doubt the defendant as the latter had several other businesses and was the son-in-law of former prime minister Ismail Sabri Yaakob," it said.
However, the plaintiff claimed that Jovian had failed, refused or neglected to make repayments.
