The company behind the global Miss Universe competition has made a bold decision just a week out from its international beauty pageant.
Priskila Ribka Jelita’s dream of representing Indonesia in the Miss Universe pageant has turned into a nightmare after he was forced to undergo “body checks” in front of local organizers. (Aug. 16)(AP video/Fadlan Syam)
Overnight, Thailand-based JKN Global Group submitted a petition for “business rehabilitation” into a Thai court.
That’s the nation’s equivalent of declaring bankruptcy and securing the protections that come with it, including urgently restructuring the business in the hopes of turning things around.
The company’s hearing date has been set for the Thai Bankruptcy Court on January 29 and it will continue operating in the meantime. That means the Miss Universe competition, slated to run next Saturday, will go ahead.
JKN Global Group purchased the global Miss Universe brand for US$20 million (A$31 million) last year but since then, it has racked up substantial debts and now has a “liquidity problem”.
The business has been on the brink of collapse since September 1, when a US$12 million payment fell due as part of its purchase agreement, but they were unable to pay it.
JKN’s chief executive is a transgender woman called Anne Jakapong Jakrajutatip, who bought the brand when the pageant was becoming more inclusive and accepting of difference.
This is the second money-related controversy to rock the Miss Universe pageant in as many days.
It comes as in a totally separate scandal, just a day earlier, news.com.au revealed that members of the public are calling for Australia’s Miss Universe representative, Moraya Wilson, to step down because of her business dealings and her family’s history.
Anne Jakapong Jakrajutatip is the chief executive of JKN Global Group.
Melbourne-based Moraya is the daughter of two bankrupt property developers linked to several corporate collapses which owe a whopping $45 million to creditors.
According to the Australian Securities and Investments Commission (ASIC), property development companies run by her parents, Anton and Melinda Wilson, owe more than $45 million to creditors following multiple company liquidations, including approximately $21 million to the tax office.
Moraya herself is also in ASIC’s crosshairs, as she is the sole director of 10 companies that the watchdog is seeking to deregister.
Ms Wilson has denied any knowledge or involvement in the businesses to news.com.au and said she was not actively involved in any of the 10 companies despite being listed as the director.
She said she had “tendered my resignation from all of the companies”.
One of the companies Moraya is director of owes $13,204 to the Australian Taxation Office, meaning it was operating and trading as a business.
She has been accused of enabling the family business to continue despite her parent’s bankruptcies through these 10 directorships.
The Wilsons’ “21-year-old daughter is now nominated as the director of the family construction group”, insolvency expert Nicholas Crouch alleged in a submission to a parliamentary inquiry into ASIC, lodged last year, after extensive investigations.
“It would appear the family business has not been disrupted by strategic bankruptcies and liquidations.”
Since her family history came to light, a member of the public has started a petition on Change.org calling for Australia’s top model to hand back her tiara.
Some Australians don’t want Moraya Wilson, pictured, to represent their country at the pageant.
Moraya said she was aware there was a Change.org petition calling for her to step down but she intended to compete in the international pageant later this month regardless.
“I have become aware of a petition,” she said.
“I intend to fulfil my duties as Miss Universe Australia to the best of my ability with the full support of The Miss Universe Australia management.”
The petition calling for Moraya to step down states: “Miss Universe is an international competition that empowers women and promotes diverse representations of beauty across the globe. This beauty goes beyond appearance and includes character and personality …”
Moraya touched down in El Salvador this week in preparation for the pageant next week.
News.com.au contacted JKN Global Group for comment, both about its bankruptcy and about Moraya Wilson being one of its contestants.
They did not immediately respond to requests for comment.
alex.turner-cohen@news.com.au
Read More: Another scandal rocks Miss Universe pageant