Former Hard Rock Park owners file motion against Freestyle

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(Source: Carolina Forest Chronicle)

HORRY COUNTY, SC (WMBF) - The owners of Freestyle Music Park are facing more legal trouble in 2010, as the park's former owners filed a motion seeking payment from FPI MB Entertainment.

Court records reveal the former owners are asking FPI MB Entertainment to pay nearly $570,000 in outstanding debt in the motion filed last Tuesday.

Alfred Giuliano, who represents HRP Myrtle Beach Holdings, LLC, states in the motion FPI MB Entertainment was contracted to pay Tetra Financial Group $800,000 upon the signing of a lease for the theme park. Following the initial payment, FPI MB Entertainment was also required to make four monthly installments of $100,000.

In the court documents, Giuliano claims none of the $100,000 monthly payments have been made.

Consequently, the court papers further reveal FPI MB Entertainment also owes Data Sales Company $169,151.52 in overdue payments.

"We're not running from our obligations and are surprised since we have been in weekly contact with the lessors," Steve Baker, president of Freestyle Music Park, said in a prepared statement. "We remain committed to paying these debts as well as our other financial obligations. These debts were already incorporated into our list of overall financial obligations which we submitted to the current owners and new investors for resolution later."

A hearing to resolve the issue at hand has been scheduled for Jan. 14 in Federal Bankruptcy Court in Delaware.

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