The Struggle for Electric Forest and AEG Continues
Electric Forest Music Festival and AEG were denied a chance to voice their opinion by Judge Terrance R. Thomas. Judge Thomas denied their motion for a preliminary injunction, which means AEG cannot ask him to prevent their festival contract from being dropped in the transfer of ownership of Double JJ Ranch between Progressive Resorts LLC and the new owners Antler Bar Amusements (ABA).
Simply put AEG and Insomniac Events run Electric Forest. AEG soaked up Madison House, who had a 20 year festival contract with the old owners, Progressive. Progressive then sold the ranch to ABA. AEG’s contract may be considered void because their contract is now a third party to the sale. However, if AEG’s claim that their contract was considered as a part of collateral in the deal then it must still be honored.
“We’re excited to be plowing forward and I think everyones intentions are for the festival not only to happen, but to be the best one yet,” Madison House Co-Partner Jeremy Stein told the Michigan Paper MLive after meeting in a closed room with AEG’s Lawyers and Judge Thomas.
Stein’s positivity is reassuring but there is still a chance that AEG could be blocked out by red tape leaving Electric Forest to hang dry. Take this into consideration along with the possibility that SFX might continue their buyouts after purchasing React Events, who throw Summer Set Music and Camping Festival in Wisconsin, as well as Spring Awakening in Illinois.
Lawyers for ABA and Progressive asserted that the sale freed it from liens or claims by third parties, including Madison House and AEG. Furthermore, they said, AEG and Madison were given notice of the resort’s sale and should have intervened last fall.
They also argued against the intervention because it would open the door to further litigation by other third parties, they claimed.
Robert Sillerman from SFX will presumably be anxiously awaiting the turnout of the case, which could mean another change for the beloved Sherwood Forest.
For other information about the Electric Forest Fiasco click here.
Related Posts
