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Jovian Mandagie was previously married to former prime minister Ismail Sabri Yaakob’s daughter, Nina Sabrina, before their divorce in 2023. (Facebook pic)
PETALING JAYA:
Fashion designer Jovian Mandagie has been declared bankrupt by the High Court in Kuala Lumpur after failing to repay a friendly loan totalling RM5.28 million from a construction company.
According to Berita Harian, senior assistant registrar Faisal Zulkifli today allowed a creditor’s petition filed by Cekap Air Sdn Bhd.
Based on the petition, filed on Nov 20 last year, Jovian, the former son-in-law of ex-prime minister Ismail Sabri Yaakob, failed to comply with a bankruptcy notice dated May 21, 2024.
The petition stated that Jovian owed Cekap Air RM5,284,340.66,…
KUALA LUMPUR: Fashion designer Datuk Jovian Mandagie has been declared bankrupt by the High Court for failing to settle a RM5.28 million loan, including interest, owed to engineering firm Cekap Air Sdn Bhd.
The decision was delivered by Senior Assistant Registrar Muhammad Faisal Zulkifli following a creditor’s petition filed on November 20, 2024.
Cekap Air’s lawyer, Siti Nur Athirazati Rohizad, confirmed that her client had issued a bankruptcy notice on May 21, 2024, after Mandagie failed to comply with a direct judgment issued by the court on April 2 the same year.
“The court has dismissed all applications by Jovian to strike out the bankruptcy proceedings,“ she said.
The dispute stems from a friendly loan extended to…
The insolvent German battery cell manufacturer CustomCells has secured a partial rescue with a new investor consortium, enabling a strategic repositioning focused on electric mobility. As reported by Handelsblatt, a takeover agreement was signed on Wednesday evening. There has been no official communication from CustomCells at the time of writing.
According to financial and negotiation sources, the winning consortium is led by existing investor Abacon, joined by two further capital providers. “CustomCells is a highly innovative German battery pioneer with enormous potential,” commented Abacon CIO Sven Rossmann on behalf of the consortium.
According to the German newspaper, one of the additional investors is Salvia, the family office of…
Retrack Slovakia s.r.o., a rail logistics company fully owned by VTG AG since 2021, has filed for insolvency, VTG confirmed in a statement issued on June 30 2025. The insolvency filing follows recent operational and financial challenges within the company.
VTG, a leading European rail logistics provider, had acquired Retrack Slovakiain 2020 with the goal of strengthening its presence in Central and Eastern Europe’s freight market. At the time of acquisition, VTG highlighted Retrack’s expertise in rail freight transport and maintenance services as key strategic assets to complement its existing portfolio.
The current insolvency filing marks a setback for VTG’s expansion plans in the region. According to VTG, the company is…
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Home » General » Business » Insolvency can’t be used to frustrate ED probe against bankrupt firm: NCLT
New Delhi, July 3 (SocialNews.XYZ) The National Company Law Tribunal (NCLT) has upheld the primacy of the Enforcement Directorate in dealing with proceeds of crime linked to money laundering over claims by creditors against a ‘bankrupt’ company under the insolvency code, an official said on Thursday.
The verdict of the Tribunal’s bench comprising Bachu Venkat Balram Das and Sanjeev Ranjan, delivered in a matter related to Shakti Bhog Snacks Limited, said: “The Insolvency and Bankruptcy Code (IBC) cannot be used as a mechanism to frustrate or sidestep the legitimate process of law under the Prevention of Money Laundering…
Home » General » Business » Insolvency can’t be used to frustrate ED probe against bankrupt firm: NCLT
New Delhi, July 3 (SocialNews.XYZ) The National Company Law Tribunal (NCLT) has upheld the primacy of the Enforcement Directorate in dealing with proceeds of crime linked to money laundering over claims by creditors against a ‘bankrupt’ company under the insolvency code, an official said on Thursday.
The verdict of the Tribunal’s bench comprising Bachu Venkat Balram Das and Sanjeev Ranjan, delivered in a matter related to Shakti Bhog Snacks Limited, said: “The Insolvency and Bankruptcy Code (IBC) cannot be used as a mechanism to frustrate or sidestep the legitimate process of law under the Prevention of Money Laundering…
A developer that went into liquidation less than three months ago has been given a fine over repeated fire safety breaches related to construction work.
Glovers Court was handed a £165,000 fine after being found guilty of four offences committed while turning a former warehouse in Preston, Lancashire, into 35 apartments.
Lancashire Fire and Rescue Service visited the site, known as the Glovers Court project, during construction in May 2023 and found multiple fire-safety issues, according to the Health and Safety Executive (HSE).
It prohibited use of the building, and residents already living there had to leave their homes.
According to a statement from the HSE, one of its inspectors carried out a follow-up visit and found the construction…
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