A bankruptcy filing may just be the tip of the iceberg for what's unfolding at Tempe-based Phat Rides Inc. The electric scooter company on Sept. 1 filed for chapter 11 bankruptcy protection. But Jeremy Hill, whose company is a key inside stakeholder in the business, is alleging that Tim Moran, the CEO who authorized the bankruptcy filing, had already been fired from Phat Rides after the company fell into default, the Phoenix Business Journal reported. Hill is the founder and managing partner at JB Capital, which helped Phat Rides refinance its debt after Moran took over as CEO in 2021. But that relationship has now turned sour, as JB Capital, based in Bellevue, Washington, has taken over controlling interest of the business, fired Moran and replaced the board, Hill told the Phoenix Business Journal. An injunction against workplace harassment was filed by Phat Rides against Moran on Aug. 25, according to Maricopa County records. The filing, submitted about a week before the bankruptcy, describes Moran as a "former employee" of Phat Rides. An accompanying certificate of service filed Aug. 28 states that Moran was "personally served true copies" of the injunction on Aug. 26 by a court certified process server. The injunction alleges that Moran was fired Aug. 4. Despite that, on Aug. 14 he allegedly "came to the business and was proclaiming that he was still the CEO and that he had only been on vacation."
