TLDR:
Palm Beach businessman Jonah Pomasan sues designer Alvin Valley for $750,000; Pomasan claims Valley convinced the Pomasans to loan him $640,000 in a convertible promissory note; Pomasan says Valley intends to honor the note. Pomasan claims he has not responded. Since April 2024, he has unsuccessfully tried to file court documents with Valley 17 times. A Valley spokesperson says he has not responded. Business continues as usual, providing services and maintain
Fashion designer Alvin Valley, known as the “King of Pants,” has been sued by Palm Beach businessman Jonah Pomasan, alleging he was defrauded of $750,000 in investments in his fashion brand. are.
The legal dispute, filed in early 2024, centers on a series of convertible promissory notes totaling $640,000 that Ms. Pomasan and her husband invested in Ms. Valley’s company, Alvin Valley Limited, in the spring of 2023. There is.
According to court documents, Pomasan alleges that Valley approached the couple with what he presented as a business opportunity. But the couple later discovered that the company’s common stock had limited value and there was no realistic prospect of a “qualified financing” event as outlined in the investment agreement, according to the lawsuit. states.
The legal filing further alleges that Valley and his companies made false representations regarding the performance of the convertible promissory notes. Pomasan’s legal team argues that Valley had no intention of meeting these financial obligations from the beginning of the contract.
According to the complaint, the fashion brand refused to repay both the principal and unpaid interest even though the loans had matured. This occurred despite multiple requests for payment from the Pomasans.
The situation is further complicated by Valley’s difficulty filing court papers. Pomasan’s lawyers have reported 17 failed attempts to serve Valley since April 2024, suggesting the designer is intentionally avoiding serving legal documents.
Pomasan publicly announced her departure from the Valley brand on social media in October 2024. She explained in a statement that she had sought to support the Valley brand throughout 2023, but realized that their values and principles were not aligned.
Palm Beach’s social community reportedly rallied around Pomasan. She encouraged supporters to contact attorney John Agnetti to submit statements to the presiding judge in the case.
The Valley’s response to the situation was limited. He reposted Pomasan’s announcement as part of a video set to Madonna’s “The Power of Good-Bye” with the caption, “Sometimes it’s hard to say goodbye.”
Sources close to Valley claim he is dodging military service and explain that his frequent trips between Paris and the Hamptons have made it difficult for him to find a place to stay. Officials suggested that Pomasan could have served him during his summer stay in the Hamptons, but did not do so.
The person characterized the dispute as a “bad relationship with an investor,” suggesting social dynamics played a role, and suggested that Mr. Valley was involved with another Palm Beach socialite, Carla Ross. He claimed that Mr. Pomasan was upset because he allowed him to host a trunk show.
Pomasan strongly rejected these claims as “insufficient attempts at both reorientation and reorientation.” He stressed that the core issue remains Mr. Valley’s alleged failure to meet his financial obligations.
A Valley spokesperson said the designer cannot comment on ongoing litigation, but expects it to be resolved in the coming weeks. Meanwhile, a representative said Valley’s business continues and it recently launched a new denim line.
The lawsuit seeks repayment of the invested funds, and Pomasan’s attorneys are actively pursuing service of court documents to advance the case.
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