SHAH ALAM, May 27,2009 — Bernama.
Former Kuala Lumpur Criminal Investigation Department chief Datuk Mat Zain Ibrahim has been declared a bankrupt for failing to settle a RM250,000 loan.
The bankruptcy order was issued by senior assistant registrar Farid Daud on May 14 and a copy of the sealed order was served on Mat Zain yesterday.
On Aug 10, 2004, businessman Yap Thoong Choan, 72, of Damansara Heights, filed a suit against Mat Zain at the Bandar Baru Bangi Sessions Court claiming the remaining RM250,000 of a loan which was not settled.
He said in his statement of claim that Mat Zain, 60, had taken a RM500,000 loan via an agreement signed by both parties on Feb 22, 2002, and it was agreed that the loan was to be settled on or before Aug 21, 2002.
Yap said that so far, Mat Zain had settled RM250,000 of the amount. A letter of demand for the remaining RM250,000, dated July 14, 2004, was sent to Mat Zain but he failed to pay up.
The Shah Alam High Court on April 21 this year issued a bankruptcy notice on Mat Zain ordering him to pay the RM250,000 with interest and costs, bringing the total to RM288,824.92.