One Night On New York Street

Universal City Development Partners, Ltd., aka "Universal Orlando," filed it's claim yesterday in the Chisholm Properties Circuit Events (CPCE) bankruptcy case:


Their total claim comes to $277,209.36, which is a bit higher than the $249,007.00 CPCE listed on it's initial bankruptcy filing.

Attached to the claim form are some interesting supporting documents, such as the contract between Universal Orlando and CPCE for the 2008 "Universe" party for which this debt was incurred. If you've ever wondered what a contract to rent a major American theme park for a night looks like, well, here's your chance! As someone who has been going to these parties for years as a consumer, getting a glimpse of how the sausage is made is actually kind of fascinating, I think. Of course, YMMV.

Also attached is a copy of the state court lawsuit filed by Universal Orlando against CPCE, for nonpayment of the contract mentioned above. Even though we've talked about the suit here before, this is the first time I've seen the actual complaint. Five pages long, what Universal Orlando is saying is pretty cut and dry: Chisholm was invoiced $221,779.47, he only paid $4,000, therefore, he now owes us $217,779.47 (plus interest).

Then there's the invoice itself:



Here's a summary of how the charges broke down:

Cost to rent the "New York Street Set" at UO (plus tax): $159,217.50
Food and Beverage at same (plus tax): $16,553.77
Aerial acts at same: $38,600.00
Bar service at same: $1,200.00
Audio/Lighting/Lasers at same: $135,000.00
"8 Dancers for Finnegans": $4,720.00
Miscellaneous taxes: $10,488.00
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TOTAL comes to: $365,778.77

But from that we subtract the pre-event deposits paid by Chisholm in three installments: CR $144,000.00

...which leaves us with a bill to CPCE for $221,778.77, which was due and payable in full five days after the event on June 13, 2008, as per the contract. But was not; even though Universal "provided several notices to Chisholm of it's breach of the Agreement" he "only made payments of $4,000.00 towards the $221,778.77 balance owed."

Then rounding out this bankruptcy claim we have accumulated interest, which as per the contract accrued at a rate of 1.5% a month:


...which as you can see, brought the total to $276,635.36 by the date of the bankruptcy filing. In addition, Universal Orlando is seeking recovery of the $417.00 it paid in Florida state court filing fees:


...as well as $157.00 in process server fees:


...which if you notice, interestingly, also includes a $100 "LOCATE" charge.

So, $276,635.36 plus $417.00 plus $157.00 comes to $277,209.36, which his how Universal Orlando calculated it's claim yesterday.