High Court Orders Vida To Pay RM15.5 Million Debt To Maybank Islamic
High Court Dismisses Vida’s Legal Challenge
Cosmetics entrepreneur Hasmiza Othman, widely known as Datuk Seri Vida, has lost her legal attempt to avoid a RM15.5 million debt after the High Court dismissed her application against Maybank Islamic.
The ruling means Vida remains personally responsible for the multimillion ringgit sum linked to financing facilities provided to her company.
Debt Linked To Financing Facilities For Vida Beauty
According to a report by the New Straits Times, the dispute revolves around financing facilities worth RM8.946 million that were granted in 2017 to Vida’s company, Vida Beauty Sdn Bhd.
As part of the agreement, Vida signed personal guarantees for the financing.
When monthly repayments reportedly stopped, Maybank Islamic initiated legal action to recover the outstanding amount.
Court Finds No Valid Defence From Vida
The case was heard before High Court judge Norsharidah Awang.
In her ruling, the judge stated that Vida and her company had failed to provide what she described as a “bona fide defence” against the bank’s claim.
The court noted that the earlier judgment had been obtained properly after Vida failed to respond to the initial legal action filed by the bank.
Default Judgment Issued In 2023
Court records show that on 6 January 2023, the court entered a default judgment after Vida did not enter an appearance in response to the lawsuit filed by Maybank Islamic.
Vida later attempted to challenge the judgment.
She argued that the legal documents had not been properly served and claimed that the bank’s lawsuit had been filed prematurely.
Court Rules Service Of Documents Was Valid
However, the judge rejected the argument.
Judge Norsharidah explained that the writ of summons had been served through prepaid registered post to the contractual address listed in the financing agreements.
According to the court, this method of service was valid under the terms agreed upon by both parties.
Court Says Allowing Challenge Would Undermine Legal Certainty
In her decision, the judge also emphasised that while courts have discretion to extend certain deadlines, such extensions are not automatic.
She explained that a party seeking extra time must provide satisfactory reasons.
The court concluded that allowing Vida’s application would undermine commercial certainty as well as the finality of legal proceedings.
Vida Ordered To Pay RM15.5 Million Plus Costs
With the High Court dismissing her application, the earlier judgment requiring payment remains in force.
The ruling confirms that Vida is liable for the full RM15.5 million sum owed to Maybank Islamic.
In addition, the court ordered her to pay RM5,000 in legal costs to the bank.
Vida was represented in court by lawyer Haris Md Nor, while Maybank Islamic was represented by Wong Weng Yew.
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Source : New Straits Times
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