EXCLUSIVE: FOMO Goes Into Liquidation; Creditors 'Could Amount' To Almost $5 Million

Major Australian music festival FOMO has gone into liquidation.

The Music has obtained initial liquidation documents sent to creditors advising that the company was "resolved by special resolution on 15 May 2020".

In a statement given to The Music, liquidators Hall Chadwick confirmed that they have been advised by directors that "creditors could amount to $4,848,396", however investigations are ongoing.

"Going forward, the Liquidator will continue to conduct the liquidation including but not limited to liaising with the Company’s creditors, realising all assets and recoverable avenues of the company for the benefit of its creditors and investigating the Company’s affairs," a Hall Chadwick spokesperson said.

"The Liquidator will provide a report to the company’s creditors within three months providing an update on her investigations, the likelihood of any dividend to creditors and any possible action that may be taken for the benefit of the company’s creditors."

READ MORE: FOMO Festival Creditors Allege They Are Yet To Be Paid From 2020 Events

FOMO launched in Brisbane in 2016 with a debut line-up that featured the likes of Skepta, Jamie xx and RL Grime and has only expanded in size and the acts it featured on future bills.

Local heavyweights Empire Of The Sun and Peking Duk were named on the 2017 line-up, while 2018 saw global superstar Post Malone take on headline duties, followed by Nicki Minaj in 2019 and Grammy Award winner Lizzo at the events this past January.

The popularity of the festival saw it expand to Sydney and Adelaide in 2017, as well as Melbourne in 2019.

Other big-name local and international artists to have performed at FOMO over the years includes SZA, BROCKHAMPTON, Flosstradamus, Flight Facilities, Tkay Maidza, The Kite String Tangle, Nina Las Vegas and Meduza.