Mothership Music Party, Ltd has confirmed that the company owes $200,000 to the ATO, as well as several additional sums to other unsecured creditors, including Mothership Music’s director, Brent Lean. The good news is, even though this announcement has come only a couple months from the Fat As Butter 2013 event, it will still go ahead as planned.
Although the ASIC notices show that the decision to liquidate was made on August 13th, it is probably the result of a NSW judge ruling that US rapper Flo Rida not responsible for a lawsuit filed by Mothership Music, even though the musician failed to complete his contractual dues in 2011. Initially, the court decided in favor of the event promoter, but in a reevaluation of the case, it was deemed that the defendant was inappropriately served, after he was notified through Facebook of the lawsuit.
The Newcastle Herald reported that the festival has been successful since 2008, and will continue to grow and be a major player in the festival market for many years to come.
Zennetsolutions (http://www.liquidationsolutions.co.uk/understanding-the-voluntary-liquidation-process/how-to-liquidate-a-company/) offers director-focused liquidations and help and support trhoughout the liquidation process, whether forced through a court ruling or voluntarily started. Visit the website or call the directors hotline at 0800-612-94-78 today to learn more about company voluntary liquidation and the easiest solutions for your business.
Distributed by Iterate LLC
Company Name: LiquidationSolutions.co.uk
Contact Person: Benjamin Wrights
State: United Kingdom
Country: United Kingdom
iframes are not supported by your browser.