Soundwave’s WA promoter Altered State declared insolvent

West Australian promoters Altered State have been declared insolvent by the Federal Court.

According to The West Australian, legal fisticuffs broke out over a $340,000+ bar bill. According to documents tendered in court, Soundwave was to receive 70% of the bar taking from the festival’s show at Claremont Showgrounds, from promoters Altered State. Bar takings on the day were close to $1 million.

Altered State paid a first instalment of $350,000 but held back the second – $340,000 – in a dispute with AJ Maddah. The Knights claimed Maddah owed them almost $500,000 from unpaid expenses and management fees from previous festivals.

Justice Michael Wigney commented that the Knights had been unable to produce business records.

He wrote: “Given the size of the events and the amount of revenue generated, it is somewhat surprising that the arrangements between the parties appear, at least on Altered State’s version of events, to have been dictated by nothing more than discussions, custom and practice.”

To which Altered State’s lawyer explained, ’That’s rock’n’roll’.”