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Straightening out the chain of liabilities would take some knowledge of state and local laws as well as all of the contracts involved. To claim the money is jus
by AJ007 7y ago
Straightening out the chain of liabilities would take some knowledge of state and local laws as well as all of the contracts involved. To claim the money is just gone is wrong. If they cancel right before an event, perhaps it is, but the conference itself may have some value. It could be sold off to another owner, for example.
If you purchased something as a consumer, and it wasn’t delivered, someone is liable. As others have speculated some of the conferences may end up going bankrupt. A 100% refund is unlikely but at least partial ones are due. Given the lost revenues from hotels, flights, and conference fee, this is billions of dollars. Large enough for law firms to work on it. On the business side, for losses to exhibitors, it’s all based on what the contracts say.
- bena 7y agoFirst, they've stated that the tickets are non-refundable. If they're still hosting the event and allowing people to attend, your reason for not attending is immaterial. Second, yes, some of that money is gone. It's likely paid to people for services either already rendered or promised. That's kind of the hitch here. The attendees cannot go after the venue for the money. The venue acquired the money legitimately from the organizer in a completely separate transaction. The organizer is the focal point. And if they don't have the money to pay people back, it's not like they can will it into existence. And even if law firms get involved, what's the outcome here? "Yes, they owe money." Cool. It still doesn't exist.
- philpem 7y agoThe more likely outcome if a court case found against a convention is that the convention would be rendered bankrupt and simply shut down.