In Singapore, deadlock continues between oBike liquidators and investor over debt info
oBike Singapore’s liquidators have pledged to provide the firm’s new majority stakeholder with documents to take the process of repaying creditors forward. — TODAY pic
Join us on our WhatsApp Channel, follow us on Instagram, and receive browser alerts for the latest news you need to know.
Thursday, 24 Jan 2019 8:13 AM MYT
SINGAPORE, Jan 24 — The deadlock between oBike’s liquidator and the bicycle-sharing firm’s investor drags on, with the investor saying that the information he has received is not enough to take the repayment process forward.
In a meeting with oBike’s creditors yesterday, liquidator FTI Consulting’s senior managing director Joshua Taylor revealed that his company provided Costa Rican investor Oscar Moises Chaves with “information regarding claims against (oBike)” the same day. The information was requested when they met Chaves for the fourth time on Jan 16.
However, Chaves said that he was again provided with the summary of monies owed without names or documents to back up the claims.
“I asked for invoices… The summaries, they just say creditors are owed (S$500,000), users (are owed) S$8 million (RM24.3 million). How do you pay that? I just want to see the documents,” Mr Chaves told TODAY when contacted over the phone after the meeting.