Court order restricts ofo boss, firm鈥檚 spending
Print Edition
The Haidian district court in Beijing has ordered a consumption restriction for ofo founder and Chief Executive Officer Dai Wei for failing to fulfill the contract of a Hangzhou logistics company.
Dongxia Datong (Beijing) Management and Consulting Co, the operator of the troubled shared bike operator ofo, was ordered to restrict its employees from unnecessary consumption in work and daily life.
The restrictions apply to ofo鈥檚 legal representative and its business operator Dai Wei for failing to fulfill the responsibilities laid out in a court order to repay its supplier鈥檚 debt.
He will be forbidden from taking an airplane as well as the soft and second-class berths in trains. He will not be allowed to purchase real estate, or build, expand, or luxuriously furnish houses.
For necessary consumption for business purposes, the company will first have to gain court approval.
The cash-tight ofo is involved in many lawsuits with suppliers and contractors over debts.
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