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

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

Whereas the choose dominated that Dentsu couldn’t cancel the competition outright, it was additionally dominated that the funding firm didn’t must 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 right permits for the competition in the course of the rigmarole.

A expertise company head beforehand informed 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 in some way, Lang nonetheless appears assured that the competition will happen. “We now have all the time relied on the reality and have by no means misplaced religion that the Competition would happen,” Lang mentioned in an announcement reacting to the choose’s resolution. “I want to thank all the expertise and their representatives for his or her endurance and help. Woodstock 50 can be an incredible 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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