JAKARTA - Jessica Jung's fashion company, BLANC & ECLARE was sued for not paying a loan of IDR 96 billion. Launching OSEN on September 29, Hong Kong media reported that BLANC Group, the company behind BLANC & ECLARE, borrowed USD 3 million from Spectra SPC in October 2016.
Then they borrowed another million US dollars in May 2017. This loan was transferred to Joyking Enterprise in August 2021.
However, the BLANC Group was considered not in good faith by not paying back the debt and interest on the loan.
The CEO of Coridel Entertainment who is also Jessica Jung's lover, Tyler Kwon responded to this news. According to him, this situation is unfair because their debts have been transferred to new creditors.
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"This (loan) is not Jessica's personal debt, but a loan made by the company (BLANC & ECLARE)," Tyler Kwon quoted MyDaily as saying.
He said Joyking Enterprises asked BLANC & ECLARE to pay off USD 6.5 million in debt, the total amount including interest on the loan, within two weeks. Tyler explained that they had entered into an agreement with Spectra SPC to extend the loan period.
"Unbeknownst to us, the loan had moved (creditors), Joyking Enterprises suddenly contacted us and said, 'Pay the debt within two weeks'".
Tyler stressed they could pay off the debt given the scale of the company. “This is a loan that is easy to pay off but repaying the entire loan with interest within two weeks, right after the loan transfer, is overkill.”
BLANC & ECLARE is a fashion company founded by Jessica Jung in 2014. Tyler Kwon has also been appointed CEO of this company.
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