No formal notice has been given, but the concert has appointed worldwide accounting firm Ernst & Young (E&Y) as the trustee to address the situation.
Previously, the festival extended the same offer to those who had attempted to attend Fyre Festival, a high-profile failure that left some people stranded in the Bahamas.
"Unfortunately there are no automatic refunds from PMF", it read. Imagine the excitement of buying a ticket and reading this today, "PMF is now in bankruptcy, it has no ability to provide refunds for tickets purchased". However ticketholders may file a proof of claim form as an unsecured creditor with EYI in accordance with the claims process.
As each bank and credit card issuer has its own specific policies, ticketholders can contact their bank or credit card issuer directly to determine whether a refund can be obtained.
Brennan adds the concert has only been able to generate more than $8.2 million in revenue, while working with a $22 million budget.
Documents also explained the process of ticket refunds.
However, that still leaves a total of nearly 55,000 fans possibly without recourse.
This year's Pemberton Music Festival has been cancelled and those who bought tickets may have a tough time getting their money back. Up until 3 PM Thursday (5/18), tickets were still available for sale on the festival's site.
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The festival had also tweeted as recently as Wednesday, with everything appearing normal.
Festivalgoers have been left in the lurch by the sudden cancellation of the Pemberton Music Festival.
That has since changed, with a banner explaining the situation blocking prospective buyers from purchasing tickets.
The 2017 PEMBERTON MUSIC FESTIVAL IS CANCELLED.
"For the past four years Huka Entertainment has worked to create a one-of-a-kind experience in the most lovely place on earth. In addition, the Pemberton Music Festival experienced increasing difficulty in sourcing talent for the 2017 festival due to a limited number of artists touring in 2017".
"As a contract producer, Huka did not make the decision to cancel the Festival", said the notice. That decision was made by the Pemberton Music Festival, LP.
Last year, the festival drew a record 180,000 fans over four days to Pemberton Village, north of Whistler.
Pemberton Mayor Mike Richman said the city had been given no warning that bankruptcy was imminent, and presumed the festival was going ahead after the lineup was revealed.