Judge gives Woodstock 50 the go-ahead
Woodstock 50 can proceed as planned but must locate more funding as judge rules that former investor need not return the $18m demanded by event organisers
News By | 16 May 2019
A New York Supreme Court judge has ruled that Woodstock 50 investor Dentsu did not have the right to cancel the festival, but rejects organisers’ demands that Dentsu return $18 million to the festival account.
The ruling, the result of two days of legal proceedings, rejects the cancellation of the Woodstock anniversary event by Dentsu’s investment arm Amplifi Live. The company withdrew its support from the festival, organised by Woodstock co-founder Michael Lang, in April.
“Nothing in the [Financing and Production Agreement] indicates that Amplifi’s exercise of the Control Option [cancelling the festival] overrides the contract’s explicit requirement that any cancellation of the festival be mutually agreed upon in writing,” stated the judge.
However, the court also ruled against Lang’s request that Amplifi return…
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