Teksupport’s days are officially numbered.
As reported by Unmixed Magazine, a New Jersey judge yesterday ordered that “there will be no more events through TCE/Toma Vitacco Entities” after November 7, ending the influential NYC house and techno event series that brought leading club DJs to venues like Brooklyn Storehouse and the Brooklyn Army Terminal.
The four page court order says Teksupport’s joint-run parent company, TCE Presents, will be split into separate companies, have its assets frozen, and begin liquidating on November 7. All of its money will be held in escrow and bills will be paid only for shows held before November 6. All non-essential TCE Presents employees will be terminated by October 9.
The order adopts the recommendations of Special Fiscal Agent Ian Lagowitz, who was appointed to the case in mid-July amid Teksupport co-founders Rob Toma and Mike Vitacco’s ongoing legal battle for custody of the company. Lagowitz will release his full report into the dispute on October 16.
After the liquidation, the order states Vitacco and Toma must each “incorporate new entities” and may produce events independently of TCE. It also states that an “immediate distribution of $500,000 each” will be made to an unnamed recipient.
The order still leaves unknowns surrounding who will be layed off, who will own the Teksupport brand once it’s assets are liquidated, and how they’re planning to pay bills for their final scheduled show with Volkoder on November 6.
You can read the full report at unmixed.org.
Featured image courtesy: Teksupport.