oBike’s liquidators to find out company's 'intention to provide refund' to users

SINGAPORE — Amid uncertainties about whether oBike users can get back their deposits, the liquidators for the troubled bike sharing firm said they would discuss the issue with the company's leadership to find out "whether it is their intention to provide such a refund".

In a statement on Thursday (July 5), Mr Joshua James Taylor and Yit Chee Wah of FTI Consulting said they have been appointed oBike's liquidators, and are "aware of media reports" surrounding the refund issue.

"The Provisional Liquidators will be liasing with the company's director and shareholder/founders regarding this issue, and to discuss whether it is their intention to provide such a refund," the liquidators added without saying when the meeting would take place.

They asked oBike users who have questions about their deposits to send queries to the email address: oBike [at] fticonsulting.com.

"Further updates will be provided to deposit holders in due course," they added.

oBike, which claims to have more than one million users here, abruptly announced on June 25 that it was ending its operations in Singapore, citing a tough new licensing regime.

The company later revealed that it had gone into liquidation, prompting scores of riders to scramble to recover their mandatory deposits — up to S$49 — that they had placed with the firm.

On Wednesday, oBike chairman Shi Yi apologised for any "misunderstanding" about his earlier comments to the media, claiming that a remark — which linked refunds of customers' deposits to potential fees imposed by the Land Transport Authority (LTA) for the firm's failure to remove its fleet from the streets — was made by a staff member who prepared the media response on his behalf.

His comments came after the LTA expressed its disappointment that the firm had reneged on its promise to refund its customers. It is unclear how many oBike customers have received a refund.

The LTA had also set a July 4 deadline for oBike to remove its fleet of about 14,000 bicycles.

Mr Taylor and Mr Yit said that they will be working with the LTA and other relevant vendors to ensure that oBike's fleet would be collected.