Jim Carroll

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Revenue Commissioners lodge petition to wind-up POD Concerts

Simon Carswell reports in today’s paper that the Revenue Commissioners have lodged a High Court petition seeking the winding-up of POD Concerts, the company behind the Electric Picnic festival. This is on foot of an outstanding VAT bill for €800,000 …

Fri, Jun 26, 2009, 09:49

   

Simon Carswell reports in today’s paper that the Revenue Commissioners have lodged a High Court petition seeking the winding-up of POD Concerts, the company behind the Electric Picnic festival. This is on foot of an outstanding VAT bill for €800,000 and the case is due to be heard on July 13.

However, the report and a statement on the Elecric Picnic website stresses that the move will have no effect on this year’s Electric Picnic festival (which is now owned and run by EP Republic, a joint venture between POD and Festival Republic), any upcoming shows promoted by the company (such as Leonard Cohen in The O2) or any of the Pod’s venues.

Per Simon’s report, “POD Concerts said it had been in talks with the Revenue and its creditors with a view to paying its debts and “sought time” from the Revenue “in order to execute this….This has not been forthcoming from them, even after paying them a substantial down payment in March and putting a payment plan to them for full execution over 16 months”.

There was no statement from the Revenue about this.