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Cosmetics mogul Hasmiza Othman, better known as Datuk Seri Vida, has failed in her bid to avoid a RM15.5 million debt after the High Court dismissed her application against Maybank Islamic
According to the New Straits Times, the case centred on unpaid financing facilities totalling RM8.946 million granted to Hasmiza's company, Vida Beauty Sdn Bhd, in 2017.
As Vida had signed personal guarantees for the loans, the bank initiated legal action when the monthly instalments stopped.
Judge Norsharidah Awang ruled that Vida and her company failed to provide a "bona fide defence" to the claim, adding that the judgment had been obtained regularly after she failed to respond to the initial legal action by Maybank Islamic
On 6 January 2023, the court entered a default judgment after Vida failed to enter an appearance.
Vida later argued that the legal papers were not properly served and that the bank's claim was "premature".
Judge Norsharidah stated that while courts have the discretion to extend time, it is not "automatic" and requires satisfactory reasons.
The judge found that serving the writ via prepaid registered post to the contractual address was valid under the financing agreements.
The court decided that allowing the application would undermine commercial certainty and the finality of legal proceedings.
Along with upholding the RM15.5 million judgment, the court awarded RM5,000 in costs to Maybank Islamic
Vida was represented by lawyer Haris Md Nor, while Wong Weng Yew appeared for the bank.
The ruling means the I Am Me singer remains liable for the RM15.5 million sum.
