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Additional Taiwanese supplier says VanMoof Asia owes it $5M-plus

Published September 6, 2023

TAIPEI, Taiwan (BRAIN) — Speed Tech, an electrical connector supplier, says VanMoof Asia owes it $5,038,000. Speed Tech joins bike maker Ideal Bike, which said last week that VanMoof Asia Ltd. owes it $1.52 million.

VanMoof Asia, registered in Hong Kong, was not included in the July bankruptcy in the Netherlands of the e-bike brand's Dutch parent company. That filing involved the Dutch legal entities VanMoof Global Holding B.V., VanMoof B.V., and VanMoof Global Support B.V.

VanMoof Asia was not among the entities that the e-mobility company Lavoie has agreed to acquire.

However, filings with the Taiwan stock exchange by Ideal and Speed Tech each say that VanMoof Asia has begun liquidation proceedings under Hong Kong's Winding Up and Miscellaneous Provisions Ordinance.

Ideal Bike has retained Ince & Co., a Hong Kong law firm, to represent its interests in the liquidation proceedings. Speed Tech has retained Baker & McKenzie to represent it. A creditors meeting was scheduled for Tuesday in Hong Kong, according to filings. 

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