05/09/2013 03:54 EDT | Updated 07/09/2013 05:12 EDT

Disgraced municipal party Union Montréal dissolves

The remaining members in former Montreal mayor Gérald Tremblay's party, Union Montréal, have decided to abandon the party.

Interim party leader Richard Deschamps announced the dissolution of the party this afternoon. In his 20-minute speech, Deschamps detailed successes from Union Montréal's 12-year reign including the introduction of Bixi, Montreal's bike-sharing system.

Deschamps says members decided to disband because of the public perception of the party in the wake of damning testimony before the province's corruption inquiry.

The party was hit with a series of defections last November when Tremblay resigned as mayor.

Deschamps says after paying off their debts, party members will return remaining funds to the city.