Financially troubled Capital Pride did an about-face on its bankruptcy application during a meeting held at Ottawa City Hall Wednesday night.
The board of directors, unable to answer tough questions, was somewhat dismantled with a few new faces stepping in. The group hopes to use the next 45 days to avoid declaring bankruptcy altogether.
“There is a general feeling…something is not quite right. And you can’t quite put your finger on it but doesn’t sit well,” said meeting attendee Marion Steele.
Steele added “I know how budgets work. I know how festivals work and this just doesn’t sit right.”
Financial irregularities were first flagged early September. Contractors came forward saying they were owed tens of thousands of dollars.
“I haven’t heard of anyone that has been paid,” said contractor Guillaume Tasse on September 9. Tasse was responsible for providing all festival infrastructures – from portable toilets to stages and fencing -- and alleged he was owed as much as $40,000.
Other groups have shown interest in taking the festival over. However, with a new board and more than a month to come up with money to pay down the debt, the festival still belongs to Capital Pride.
There are many unanswered questions remaining; though, members of the organization are optimistic about the festival’s future.
“Pride is not a corporation. Pride is a movement. Pride is a value,” said Jeremy Dias.
The board’s chair Jody McNamara issued several apologies during the meeting saying “I want to apologize, from the bottom of my heart, for a job done poorly.
