A district court in Shanghai has issued a travel ban on an executive of the debt-saddled bike-sharing startup Ofo.
Chen Zhengjiang, the CEO of Ofo’s operating company Dongxia Datong (Beijing) Management Consultancy, has been blacklisted by Shanghai Yangpu district court because his company had failed to implement a court ruling of paying RMB 120,000 (USD 17,300) to an individual named Wu Jinke, according to a notice on Shanghai Higher People’s Court’s website.
Apart from the Shanghai case, Ofo also failed to implement the ruling of another 13 cases nationwide.
Last month, the Ministry of Transport issued rules regulating the deposits which require bike-sharing companies to fulfill deposit refund requests form their users within two days.
Ofo, the Beijing-based company founded in 2015, failed to pay out refunds which caused a long queue of users outside its office building last December. As of the end of May, more than 14 million Ofo users were still waiting for their deposit refunds, according to the Beijing News.