Bankruptcy Petition Filed Against Taste Of Minnesota
MINNEAPOLIS (WCCO) — A group of creditors have filed a bankruptcy petition against the owner of the annual Taste of Minnesota festival, claiming the organization has left behind nearly $1 million in unpaid debt.
St. Paul ended its contract with the festival’s owner’s, International Event Marketing, LLC, in October after the organization did not pay the city about $23,600 in rental fees and other costs, including a number of payments to vendors of the food and music event.
The creditors listed in the bankruptcy petition have claims totaling more than $237,000.
It also cites a letter sent to creditors by the president of IEM, from October stating the company had no intentions to pay its debts.
An attorney for several of the petitioning creditors said funds recovered by the bankruptcy trustee will be shared with all creditors of the Taste of Minnesota, not just the petitioners. Though, he said unpaid sales taxes and costs of administering the bankruptcy will be paid first.