Photo courtesy: KVRR
FARGO (KVRR) – Customers who purchased tickets from Fargo concert promoter Jade Presents and Tickets 300 will likely be able to file refund claims on a special website for ticket buyers.
A protocol for processing claims was among the items discussed Friday during the company’s first hearing in U.S. Bankruptcy Court.
Jade Presents LLC filed for Chapter 11 bankruptcy on June 6, just days after announcing that the business closed. Chapter 11 allows companies to restructure their debts and pay back creditors over time.
Ticket customers will be required to provide a proof of purchase. Ticket claims will likely not be accepted by mail. Details are still being finalized.
U.S. Bankruptcy Court Judge Shon Hastings said claims that do not involve ticket sales would be filed with the court as usual. Hastings said she wants to ensure there’s a transparent and efficient process for filing claims.
An attorney for Jade Presents said an effort is under way to save as many previously scheduled shows as possible, but said there’s still a “high probability” that more shows will be canceled.
The company lists assets at around $393,000 and liabilities at nearly $2.9 million. The estimated number of creditors is between 5001 and 10,000.
Another hearing is scheduled on June 25.
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