MYAirline Founder Faces Legal Action Over Loan Defaults

Legal proceedings have been revealed against the founder of MYAirline, Allan Goh Hwan Hua, and four associated entities following the collapse of the Malaysian airline earlier this month. The action, initiated by 15 individual investors, alleges that the defendants, including i-Serve Online Mall, Bright Moon Venture, QA Smart Partnership, and Trillion Cove Holdings, defaulted on an MYR8 million (USD1.67 million) loan.

According to reports, the investors claim that between November 2021 and June 2022, the defendants failed to make agreed monthly repayments, constituting a breach of contract. The plaintiffs are seeking full repayment of the principal amount, arrears, and 5% interest. Goh, who remains in police custody, faces further scrutiny as investigations into money laundering-related activities continue.

The legal proceedings shed light on the financial challenges faced by MYAirline and its founder, with broader implications for Goh’s other business entities. Goh’s arrest and ongoing investigations have raised concerns about the financial practices within the MYAirline ecosystem, prompting legal action from investors seeking restitution. The case is scheduled for a hearing on November 22, 2023.