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Organizers of one of the province’s largest music festivals filed for bankruptcy on Thursday (May 18), with accounting firm Ernst & Young named as the festival’s trustee.
The firm says there will be no automatic refunds for ticket holders, although ticket holders may file a proof of claim as an unsecured creditor with Ernst & Young. The firm also says refunds may be available for ticket holders from third parties if tickets were purchased using a credit card, though each bank and credit card issuer have their own set of policies.
 
According to documents from Ernst & Young, “decreased ticket sales and increased operating losses, in addition to a weakening Canadian dollar, forced festival organizers to cancel the event. ....

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