Berardo’s festival IP purchase puzzles festival suppliers
CREDITORS are perplexed by Jim Berardo's purchase of the Intellectual Property rights for the Noosa International Food and Wine Festival, saying the first they heard of it was when they read it in the Daily.
"We all found out from your paper - front page," a beverage supplier and creditor said.
He said creditors were working with Mr Berardo because they wanted to get paid, even though they were "all very upset about it".
He said once his company's debts were paid he would no longer be involved in the festival.
Other festival collaborators were undecided about future involvement.
Peppers Noosa Resort and Villas (formerly Outrigger) is one of three creditors owed the most by Noosa Food and Wine Events. Its general manager and area manager, Steve McPharlin, said Peppers Noosa would wait until the debt had been paid before deciding whether to be involved in the festival again.
"Our position is not final - whether we would support a future festival associated with that director," he said.
Mr Berardo said yesterday that he had informed 60 of the 73 creditors of his ownership of IP rights, and remained committed to repaying them all in full.
He said the amount owed was still being finalised, but funds would come from himself and not from Noosa Food and Wine Events, the company that ran the festival. Berardo's Restaurant is now in liquidation.
Mr Berardo said payment plans would be finalised next month.