News Summary

Onyx Motorbikes has been brought back to life by its original founder, Tim Seward, a year after the death of its previous owner, James Khatiblou, left the company in financial disarray. Seward announced the revival of the electric bike brand through a LinkedIn post, expressing excitement over the brand’s return with substantial backing. The company is initially offering around 100 RCR electric dirt bikes, although it is unclear if these are newly manufactured or from a previous batch held up due to financial complications. Khatiblou, who acquired the company from Seward in 2019, struggled with operational challenges, leading to unfulfilled customer orders and significant debts. Oxygen Funding, a creditor, claims a $2.2 million debt from Onyx and has sought to administer Khatiblou’s estate to recover its funds. The revival’s impact on existing creditors and stakeholders like Kenneth Ames and Troy Smith, who hold interests in Onyx, remains uncertain.