NEW YORK (CelebrityAccess) — Organizers for the Woodstock 50 anniversary music festival have filed an appeal of part of last week’s court decision that allowed financial backers Dentsu Aegis Network and their Amplifi Live subsidiary to reclaim some of their investment into the festival
On May 15th, Justice Barry Ostrager provided a win for Woodstock 50 when he ruled that Amplifi Live did not have a contractual right to unilaterally cancel the festival.
At the same time, he ruled against an injunction sought by Woodstock 50 organizers to force Amplifi Live to return $17.5 million in financing to a bank account jointly shared with the festival, noting that the dispute over finances would a matter for arbitration to settle.
Since then, Woodstock 50 organizers announced they had secured a new financial partner Oppenheimer & Co, but they still have their sights set on Dentsu’s cash.
In a motion to appeal filed on Tuesday, Woodstock organizers are again seeking the return of the money, noting that the decision to push the thorny financial question to arbitration will render any reward from that arbitration to be “ineffectual without injunctive relief” and that the festival will “suffer immediate and irreparable harm absent injunctive relief pending arbitration.”
“Dentsu’s ongoing misconduct represents a blatant effort to force the cancellation of a festival that W50 is otherwise ready and able to produce. Without the requested relief, any award granted in the arbitration will be ineffectual because by the time such relief is granted, Dentsu will have successfully sabotaged W50’s production of the Festival, in plain violation of the Order, the Agreement, and New York law,” Woodstock 50 Attorney Marc Kasowitz argued in a memorandum of law supporting the appeal.