DEL MAR — Published reports earlier this month detailed bankruptcy details of the defunct Valitar show that closed in Del Mar last November, and although $600,000 has been recovered by a federal bankruptcy court, employees, acts and vendors are still heavily owed.
According to the North County Times Newspaper, the recovered $600,000 includes about $217,000 in net proceeds from an auction held in January of five large tents and other equipment used for the show. It also includes about $255,000 that producer and Rancho Santa Fe resident Mark Remley took after Valitar closed and has since returned, according to court documents.
Equustria Development Inc. — the company formed by Remley and his wife, Tatyana, to launch Valitar — still owes more than $14 million to roughly 100 creditors. According to the North COunty Times article, the largest creditor is Remley himself, who invested nearly $10 million, according to a report filed in court by Victor Vilaplana, an attorney for Equustria.
Employees and performers are reportedly owed about $237,744 in wages. Vendors, who provided various services and production equipment supplies, are owed about $2.9 million.
A second auction is likely to be held as additional property is turned over to bankruptcy court, including some of the horses used in the production.
Valitar premiered Nov. 16 in a 45,000 square-foot tent at the Del Mar Fairgrounds, featuring nearly 30 performers and about 55 horses. Five days later, the show abruptly ended, citing poor ticket sales. Equustria filed for bankruptcy on Dec. 14.
The sudden end to Valitar stunned performers and crew members, many of whom reportedly were left stranded without pay in local lodging. A benefit show and subsequent donations assisted several of the affected, who were able to return home. However, the North County Times article reported that some remain in the area working or looking for work.
“It’s been horrible,” said Bing Bush, an attorney representing several former Valitar employees. “It uprooted their lives.”
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