Creditors Force Change Of Liquidators In Failed Festival Wind-Up

SYDNEY (CelebrityAccess MediaWire) — Unpaid artists and event production crew have succeeded in a bid to replace the liquidator assigned to administrate the resolution of a failed 3-day music and arts festival.

According to the Sydney Morning Herald, the insolvency firm Jirsch Sutherland, who had been retained to liquidate the festival Ivor Worrell and Christopher Darin from forensic accounting firm Worrells. In addition, Peats Ridge creditors also had Jirsch Sutherland partner Andrew Spring removed from a creditors meeting where he had been acting as a chairman. It was revealed during the meeting that Mr. Spring had previously overseen the liquidation of Peats Ridge creative director Matt Grant's companies since 2011, which would be a potential conflict of interest.

Grant voluntarily placed Peats Ridge into liquidation on 18th January, reporting debts of $1.27 million with assets under $140,000 of which the liquidation firm would claim $80,000.

The list of outstanding creditors

John Butler’s Butler Brown Touring Co: $95,579
Sorted Events: $283,726
Elastic Entertainment $49,477
The Black Seeds: $11,500
Billions Australia: $45,650
Chugg Entertainment: $6,985
The Harbour Agency: $16,195
Select Music: $6,780
Modular Agency: $11,000
Foreign Dub: $12,100
Niche Productions: $10,000
Fuzzy Touring: $5,500
PRA: $14,850
Australian Mobile Staging: $15,296
ISEC: $15,249
JR Richards & Sons: $38,460
Oztix: $10,982
Premier Motor Services: $20,748
Rock Posters Sydney: $6,600
Sydney Posters: $16,792
TFH Temporary Fence Hire: $20,465
Splashdown: $28,837
TheMusic.com.au: $4,315

-CelebrityAccess Staff Writers