Liquidators' Aug 2 meeting open to oBike users owed deposits

According to FTI Consulting, oBike owes its roughly 220,000 deposit holders in Singapore almost $9 million.
PHOTO: AFP

The provisional liquidators of beleaguered bike-sharing firm oBike will hold a meeting next Thursday at 3pm which will be open to oBike users who have yet to receive a refund of their deposit, among other creditors.

The meeting, by business advisory firm FTI Consulting, will take place at the Shine Auditorium at 100 Beach Road, #03-01 Shaw Tower, said the firm yesterday.

FTI will provide an update on oBike's winding-up there, and the relevant details and necessary forms for the meeting can be downloaded from www.obikedepositholders.com. According to the firm, oBike owes its roughly 220,000 deposit holders in Singapore almost $9 million. After oBike suddenly ceased operations here last month, company chairman Shi Yi said unreturned deposits amounted to about $6.3 million.

As of July 22, 6,286 deposit holders had submitted their claims online, totalling $287,337.60, said FTI.

Those who want to attend and vote at the meeting must submit their claims by noon, Aug 1. They can submit their claims through the same website listed above.

However, those who do not attend the meeting can still submit their claims afterwards and will not lose any of their rights.

Those who want a proxy to attend the meeting on their behalf can submit a proxy form, found in the downloadable document in the liquidators' website.

Registration for the meeting will commence at 2pm on Aug 2.

Join ST's Telegram channel here and get the latest breaking news delivered to you.

A version of this article appeared in the print edition of The Straits Times on July 24, 2018, with the headline Liquidators' Aug 2 meeting open to oBike users owed deposits. Subscribe