Judge: Concert firm must pay royalties or face consequences
Justice Peter Kelly issued the warning at the Commercial Court after being told by Brian O’Moore SC, for IMRO, of a “litany of broken promises” by POD Concerts since the sides reached a mediated settlement in July of their dispute and that an overdue cheque for €150,000 had been issued last Friday only after court proceedings were restarted.
Counsel said POD Concerts had also raised an issue relating to the numbers who attended the Leonard Cohen concerts last summer but had since failed to supply the relevant figures to enable the matter to be dealt with.
Mr O’Moore said, after his side re-entered the matter to the Commercial Court seeking payment of overdue monies, it had received last Friday evening a cheque for €150,000 due in outstanding royalties for POD events in July and August including the Electric Picnic event of August.
That was “a positive development” and, in light of it, IMRO wanted to adjourn its application to re-enter the proceedings to allow the cheque to clear, counsel said. His side were also seeking returns for October and November as these and a number of things had to be done before POD Concerts would be back in compliance with the mediated settlement, which had been filed in court.
Mr Justice Kelly noted there were still some funds lodged in court by POD Concerts following the July agreement. Mr O’Moore said the €150,000 payment referred to was a liability that had arisen since the settlement and his side did not want to touch the lodged funds as these were to provide security against any breach of the agreement.
Douglas Clarke, for POD Concerts said his side had set out their position in a letter and the cheque for the €150,000 due had been sent on Friday.
Mr Justice Kelly said he had read the letter and it was “a lot of huff and puff”. He said he was not very impressed when people enter mediation, reach agreement and then the case has to be re-entered.
He said he expected the outstanding returns to IMRO to be made by Thursday or there would be “serious consequences”.
Last July’s settlement involved an undertaking that IMRO would receive some €216,000 from POD Concerts for outstanding royalties related to music festivals going back four years, including the Electric Picnic festivals.
IMRO had initiated proceedings for more than €432,000 in outstanding royalties and had warned, if the monies were not paid, it might move to restrain future live music events run by POD Concerts.
Following mediation, IMRO was to receive €216,198 of the sum of €432,741 lodged in court by POD Concerts; POD Concerts was to get a payment of €344.76 and the remaining monies were to remain in court in accordance with the mediation agreement.
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