Creditors of bankrupt SFX Entertainment named
Promoters from North America are owed millions
The creditors for the recently made bankrupt SFX Entertainment have been revealed.
Those owed money include Alda Events ($23.6 million), Totem OneLove Group, which puts on Australia's Stereosonic Festival ($10.7m), Made Events ($10m) and React Presents ($5.8m), which throws parties at The Mid in Chicago.
Another creditor is PRS for Music, the company that provides performers with royalties, which is owed the least out of the SFX subsidiaries ($327,680).
It was revealed last week that SFX had received $80m in a bankruptcy loan, which is expected to pay off "senior money lenders".
There has also been reports of investors opening legal action against Robert Sillerman, the event company's former CEO, for misleading them.
[Via: Music Week]
Dave Turner is Mixmag's Digital News Editor, follow him on Twitter here
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