Former SFX Board member Mitchell Slater is suing former SFX CEO Robert Sillerman in New York Court, alleging Sillerman never repaid Slater for a personal loan from April 2015.
According to a promissory note signed by Sillerman, the loan would accrue interest at 5% annually and would be repayable to Slater upon demand.
On Sept 22, 2016, Slater sent Sillerman a letter titled “Demand for Payment on Promissory Note” requesting payment of $2,517,266.67 by Oct. 3.
“I will promptly pursue all available remedies including, but not limited to, my right to commence an action for the Payment plus all legal fees, expenses and disbursements incurred in connection with the enforcement and collection of the Note,” Slater wrote. “I sincerely hope that is not necessary, however. I expressly reserve, and do not waive, any and all rights under the Note or at law and equity.”
Sillerman never responded to the letter and Slater is hoping the judge in the case will issue a summary judgment forcing Sillerman to repay the loan, plus attorney fees.
Latest posts by Dave Brooks (see all)
- The Thr33: Post Malone Announces Curated Fest, Chris Lamberth Heads to Hatfield Group, & World Cup Tickets Going for $2,300 - June 15, 2018
- Dave Matthews & Live Nation Give Out $50 Vouchers After Parking/Traffic Gridlock - June 15, 2018
- Lost Lake Festival in Phoenix Is Being Cancelled - June 15, 2018