Supafailure Part 3: Raiders Of The Lost Refunds

The saga of embattled hip hop festival, Supafest, continues on a downward spiral with today’s news that promoters have missed their proposed refund dead-line, putting the future of next year’s iteration in serious doubt.

It all began with thousands of ticket holders who were ripped off when a number of the headliners, such P, Diddy and Missy Elliot, were pulled off the lineup to cut costs, or because they had simply never been booked.

Following the fall-out, in which it appeared that the organisers of Supafest had acted dishonestly, at worse, illegally, they remained inexplicably unashamed about their behaviour even when they were slapped with severe fines from Victorian Courts over their shady business practises.

In a lawsuit brought forward by the Phonographic Performance Company of Australia (PPCA), Vicotria’s Supreme Court issued them with a notice of failing to pay the amount of $13,200 owing in collective royalties. Along with debts owed by Supafest to other creditors, reported by The Age to include Staidum Australia OperationsSydney stockbroker Lance Rosenberg’s wife, and property developers the Wolanski family – all who are said to have rolled over debts worth millions of dollars in the hope that the festival could turn a profit.

That’s before even getting to the fans who bought tickets to the calamitous event.

Following continual delays to refunds, it seems that Supafest organisers are about to break their refund commitments yet again.

Originally promising outstanding refunds would be issued to angry punters by June 1, Supafest promoters have now issued a statement that effectively drags out their returns by another week.

Issuing a statement on their Facebook page this morning, the day before the refunds were promised to be issued, the promoters apologise “for the time it is taking to pay the balance of the refunds.” Before adding,

“We are reconciling what tickets have and have not been scanned which is a timely process. We are seeking another additional week till June 8th to finalise all refunds and hope that you can remain patient till then. Thank You.”

Those who were promised their money back were quick to add their comments to their post, one furious punter saying “so quick to take my money yet so slow to give it back.”

It’s another sour move from the festival promoters, who have promised money they may not have, especially considering a recent report from The Age that states the outstanding debts owed to the aforementioned creditors is due to be heard in court on June 6.

It all combines to put a serious dampener on Supafest’s intentions on returning for 2013, particularly given that the owners of the hip-hop festival, Paper Chase Touring and Entertainment Pty Ltd (who owe 46% in shares) may once again go into receivership.

First going into potential liquidation during a two week period in August 2011,over $340,000 in outstanding debts owed to an internet entrepreneur, then again on April 16, 2012 when a receiver was appointed before being pulled the following day.

This latest refund delay be the final nail of the coffin for what’s still best described as a Supafailure.