Friday, August 23, 2019

PledgeMusic's Winding Up Petition Is Now Public | hypebot

PledgeMusic NewPledgeMusic's official Winding Up petition is now public and it shares little new information, including which assets are still available to be sold to pay off the failed crowd funders substantial debt to artists, labels and other creditors.

Winding Up is the UK equivalent of a court controlled asset liquidation.

PledgeMusic suspended all crowdfunding campaigns on its site on February 4th, leaving hundreds of musicians and labels without payment. Estimates shared with Hypebot range from $3 million to as high as $10 million.

Read the full official court filing here (pdf).


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