Decide Reverses Woodstock 50 Investor’s “Cancellation” However Will It Matter?

Woodstock 50 has been preventing an uphill battle the previous month, after passing its anticipated on-sale date after which having a number of points inherent to the competition uncovered, amongst having its principal investor pull out and “cancel” the competition.

Nevertheless, the competition is fortunate as a decide in New York Supreme Court docket has dominated that investor Dentsu Aegis Community didn’t have the capability to utterly cancel the competition by itself. That being stated, it’s principally a authorized victory as Woodstock co-founder Michael Lang nonetheless reportedly has to seek out $30 million in funding.

Whereas the decide dominated that Dentsu couldn’t cancel the competition outright, it was additionally dominated that the funding firm didn’t should return the $17.eight million it took from their joint account to Woodstock. That, along with the truth that W50 nonetheless has not secured the correct permits for the competition through the rigmarole.

A expertise company head beforehand instructed Billboard, “We’re not even going to have a dialogue with Lang till we see that each allow wanted for this occasion has been secured. I’d additionally like to listen to how he plans to persuade followers to purchase tickets for an occasion that’s been already canceled.”

But one way or the other, Lang nonetheless appears assured that the competition will happen. “We’ve got all the time relied on the reality and have by no means misplaced religion that the Competition would happen,” Lang stated in a press release reacting to the decide’s determination. “I want to thank the entire expertise and their representatives for his or her endurance and help. Woodstock 50 will likely be a tremendous and provoking competition expertise.”

As of proper now, Woodstock 50 will nonetheless happen August 16th-18th in Watkins Glen, New York.

 

H/T Consequence of Sound

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