Provisional liquidation is a temporary process in which provisional liquidators are appointed to safeguard the companies’ assets and affairs.  

The companies will thereafter be placed into creditors’ voluntary liquidation at their respective extraordinary general meetings (to be convened), under which the Liquidators will realise the Companies’ assets and distribute the available funds to creditors in accordance with the applicable legal priorities.
 

The operations of the Companies ceased immediately following the commencement of the provisional liquidation.  All True Fitness and True Yoga clubs at the locations below are closed and you will not be able to access the gym / yoga studios or attend classes.

• Djitsun Mall @ AMK
• Income @ Tampines Junction
• Velocity @ Novena Square
• TFX Funan
• TFX Millenia Walk
• TFX CIMB Plaza
• True Fitness Great World

If you have any unutilised packages, classes or memberships, please submit a claim to the Provisional Liquidators’ office / the Liquidators’ office.  

If you have any unutilised packages, classes or memberships, please submit a claim to the Provisional Liquidators’ office / the Liquidators’ office.  

At this stage, it is too early to determine whether members will recover any money. Members’ claims for unutilised packages or memberships will generally rank as ordinary unsecured claims. Any distribution will depend on the assets available after payment of the costs of the liquidation and preferential claims. Accordingly, no recovery can be guaranteed.

The Provisional Liquidators have been actively identifying payment processing providers and issuing cancellation instructions to stop future recurring deductions. However, as we are unable to control or confirm when individual processors will act on these requests, members should also contact their bank or card issuer directly to cancel any recurring payment, standing instruction, or GIRO arrangement.

The Provisional Liquidators are liaising with the landlords of the fitness clubs to facilitate the retrieval club members’ personal belongings. If you have any personal belongings remaining in any of the fitness clubs, please provide us with your name, email address, contact number and name of the club via email to:

For True Fitness members: RF-TFitnessMembers@rsmsingapore.sg 
For True Yoga members: RF-TYogaMembers@rsmsingapore.sg 

Upon receipt of your contact details, the Provisional Liquidators will reach out to you to make the necessary arrangements. 

If you have any claims against the Companies, please file a Proof of Debt with the Provisional Liquidators’ office via https://cdp.rsmsingapore.sg/ together with any supporting documentation substantiating your claims.  You may find the FAQ on the Proof of Debt filing process here.

Please note that all claims submitted are subject to adjudication and verification by the Provisional Liquidators / Liquidators.

Creditors may seek their own legal advice on any actions they may have against the Companies.  

Nonetheless, please note that pursuant to section 170 of the Insolvency, Restructuring and Dissolution Act 2018, no action or proceeding may be proceeded with or commenced against the Companies except with the permission of the Court and subject to such terms as the Court may impose.

During the liquidation, the Liquidators will take control of the Companies’ affairs, identify and realise their assets, review and adjudicate creditors’ claims, and investigate the Companies’ affairs where appropriate. Any available funds will then be distributed to creditors in accordance with the applicable legal priorities. Once the administration is completed, the Companies will be dissolved.

Please refer to the chart below:

Please reach out to the Provisional Liquidators’ office via the relevant email address below:

For True Fitness members: RF-TFitnessMembers@rsmsingapore.sg 
For True Yoga members: RF-TYogaMembers@rsmsingapore.sg 

We will endeavour to respond to your queries within 3 working days. We seek your kind understanding should there be any delay due to the volume of enquiries.