Trustee Gregory Messer proposes paying Fyre Festival attendees $280 each in damages in a bankruptcy filing
Ticketholders for the disastrous Fyre Festival could suffer one final insult, after bankruptcy proceedings that suggest they will not get the $7,220 payouts they won in a class-action lawsuit against the organizers.
Fyre Festival’s bankruptcy trustee, Gregory Messer, told a bankruptcy judge that he’s collected just $1.4 million, of which $1.1 million will go to attorneys and accountants, according to court documents first reported by the New York Post.
That leaves a paltry $300,000 to divvy up among creditors seeking more than $7 million, including the ticketholders who won a $2 million judgement earlier this year.
Messer's proposal, which has yet to be approved by a judge, is to pay out a total of $78,391.73 to the 277 ticketholders, which would equate to roughly $280 per person.
Tickets to the disastrous 2017 festival in the Bahamas were sold for $1,200 each, with package deals that cost up to $100,000, according to court documents.
Tickets to the disastrous 2017 festival in the Bahamas were sold for $1,200 each, with package deals that cost up to $100,000, according to court documents
The proposal above shows the $7 million in unsecured claims against Fyre Festival LLC, along with how the trustee proposes to distribute the $300,000 in remaining assets
This was among the food said to have been served to ticket holders at Fyre Festival. The 'gourmet food' was barely passable cheese sandwiches served in Styrofoam containers and the 'hottest musical acts' were nowhere to be seen
The festival sold a total of around 8,000 tickets for two weekends. With attendees having spent between $1,000 to $12,000 on ticket to the festival, it was cancelled on its opening day, leaving people stuck on the island without many basic amnesties
Organizer Billy McFarland and rapper Ja Rule drew millions in investments with the promise of putting on a first-of-its-kind, luxury music festival event in The Bahamas with models, DJs, luxury dwellings and extravagant meals.
They paid models like Kendal Jenner to promote the event on Instagram and blasted seduction promo videos and pictures to lure people into buying tickets that were sold at thousands of dollars each.
But the event was a disaster, with people arriving on the island of Great Exuma to find a scene more closely resembling a disaster relief camp than a luxury festival.
Court filings documents described the scene met by concert goers upon their arrival as 'total disorganization and chaos.' The 'luxury accommodations' were FEMA disaster relief tents, the 'gourmet food' was barely passable cheese sandwiches served in Styrofoam containers and the 'hottest musical acts' nowhere to be seen.
The festival sold a total of around 8,000 tickets for two weekends. With attendees having spent between $1,000 to $12,000 on ticket to the festival, it was cancelled on its opening day, leaving people stuck on the island without many basic amnesties.
After around 8,000 tickets were sold, the event turned out to be a disaster, with people arriving on the island of Great Exuma to find a scene more closely resembling a disaster relief camp than a luxury festival. Pictured: These were the tents that the guests found when they arrived. They were hurricane relief tents with foam
