SINGAPORE: Bike-sharing operator oBike has appointed liquidators who will work with the Land Transport Authority (LTA) on retrieving the company's bicycles.
Mr Joshua James Taylor and Mr Yit Chee Wah of FTI Consulting have been appointed as oBike’s provisional liquidators, the business advisory firm said in a press release on Thursday (Jul 5).
AdvertisementThey will work with LTA and other vendors to ensure that oBike’s bicycles “continue to be collected and thereafter, realised in an orderly manner”.
The US-headquartered company also said that the provisional liquidators are aware of media reports on the refunds of deposits requested by users.
"The provisional liquidators will be liaising with (oBike's) director and shareholder or founders regarding this issue and to discuss whether it is their intention to provide such a refund," FTI Consulting said.
In the interim, it said deposit holders may send their queries to [email protected]. Further updates will be provided to deposit holders in due course, the company added.
AdvertisementAdvertisementoBike announced last Monday that it was shutting down its Singapore operations. The company cited difficulties in meeting LTA’s new requirements, which were implemented to tackle indiscriminate parking of bicycles, as the reason for its exit.
Since then, customers have sought to get back their deposits, which adds up to S$6.3 million in total. The Consumers Association of Singapore said on Wednesday that it has received more than 1,000 complaints from oBike customers asking for a refund of their deposits.
The company is also scrambling to retrieve its fleet of 70,000 bicycles that have been left abandoned in public areas islandwide. The LTA had set a deadline of Jul 4 for oBike to clear all its bicycles off the streets.
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