Horry County, SC - HORRY COUNTY, SC (WMBF) - A Utah-based company has filed a new motion against Freestyle Music Park, asking a judge to make a fault judgment on $400,000 in back payments.
Tetra Financial Group, located in Salt Lake City, UT, filed the paperwork after FPI Entertainment, LLC has failed to pay back a portion of its lease debt to the company.
The company filed a previous lawsuit in federal court, alleging the owners of Freestyle Music Park contractually broke a lease agreed upon by the two companies.
Court documents reveal a total of $800,000 of the $1.2 million deal was paid for upon the signing of the lease. According to the lawsuit, Tetra Financial Group is owed nearly $400,000.
The financial obligations, as outlined in the federal lawsuit, involve lease payments for the use of rental equipment, audio/visual equipment and theatrical lighting.
The fault judgment, according to officials would compel FPI Entertainment to make a payment.
FPI Entertainment began feeling the financial heat from its purchase of Freestyle Music Park shortly after purchasing the $400 million attraction, formerly operated as Hard Rock Park. The park was purchased under bankruptcy for $25 million, but included $569,151.52 in outstanding debt.