Indy promoter owes thousands to Edmonton businesses
A number of Edmonton businesses and organizations have learned they may be out tens of thousands of dollars owed to them by Octane Motorports Events Inc., the promoter of last summer's Edmonton Indy.
Chateau Nova, Alberta Health Services, MMP Mohawk Fuel Products Inc., Cowan Graphics and CBC Radio-Canada are among the creditors on a list that was filed in Quebec Superior Court by bankruptcy trustee Raymond Chabot Inc.
Fast Fence Rentals Ltd. in Edmonton is owed nearly $40,000 for providing temporary security fencing. Co-owner Jeanne Piechowicz learned three weeks ago that her business may never receive that money
"I was very upset," she said. "It's crucial. That's a lot of money."
On Sept. 21, Octane Motorsports Events filed a "Notice of Intention to Make a Proposal" as an insolvent person at the Superior Court of Quebec, the same day it announced it was pulling out of the 2013 Edmonton Indy.
Octane was the promoter for the 2011 and 2012 versions of the race.
"Despite our tight management policies and our efforts to offer to the fans a world-class spectacle, we were not able to make this event profitable and nothing allows us to hope for a better profitability next year," the promoter said in a news release, adding that there would be no further public comment on the matter.
Piechowicz's company spent a month preparing for the event, which required the use of ten employees working in three different crews.
"We've been in business for 20 years and it's just my husband and me," she says. "To have something like this happen, it just hurts."
With files from the CBC's Marion Warnica