MBC Korean Music Wave in Singapore 2013

Update - Cancellation Notice of MBC Korean Music Wave in Singapore 2013 (5 Feb 2014)

We have finally completed the pro-rated refund process with SmoovPay. The refundable amount should be reflected in your bank statement within one week from now. This process took so much longer than we expected, and we are truly aplogetic. We are really grateful that we are able to bring this matter to closure with your patience and co-operation. Thank you all once again.

Update - Cancellation Notice of MBC Korean Music Wave in Singapore 2013 (6 Jan 2014)

This is to update you on your refund application status.

  1. Customers who paid via PayPal
    We have been informed by PayPal that the pro-rated refund has been completed. If the payment was made using your PayPal account balance, you should be able to see this transaction in your PayPal account by now. If the payment was made with a credit/debit card, it might take up to 30 days for this transaction to be reflected in your bank statement.
  2. Customers who paid via SmoovPay
    We are still having some issues executing the refund via SmoovPay, please be assured that we are working very closely with SmoovPay to start the refund process as soon as possible. We are really sorry for delay, it is estimated that it will take another 2 weeks to complete this process.

Update - Cancellation Notice of MBC Korean Music Wave in Singapore 2013 (27 Dec 2013)

Thanks so much for the effort in submitting the refund applications. Here is an update on the refund status.

  1. Customers who paid via eNETS
    The refundable amount will be transferred to the bank account that was provided in your refund application. We have initiated a bulk bank transfer on 26 Dec, and total amount was already deducted from our bank account, so you should expect to receive the fund latest by middle of next week.
  2. Customers who paid via PayPal and SmoovPay
    We have already complete the process of verifying the refundable amount for each customer, so we are now waiting for these online payment service providers to provide us with the exact instructions to go ahead with the refund. We will update you again as soon as we have more information.

Update - Cancellation Notice of MBC Korean Music Wave in Singapore 2013 (27 Nov 2013)

Just a quick update.

If you have made your purchase using eNETS Direct Debit, you should have received an email regarding the pro-rated refund from SingTic. In case you have not receive this email, please notify us at support@singtic.com

As for customers who made purchases using PayPal or SmoovPay, you should get an email regarding the refund arrangements by the end of this week.

Update - Cancellation Notice of MBC Korean Music Wave in Singapore 2013 (25 Nov 2013)

This is to update you guys on our progress for the past one week and what to expect moving forward.

With regards to our discussion with Stone Forest (Fatfish's Liquidator)

  1. We have shared with Stone Forest the computation of the pro-rated refund that SingTic will be offering. The computation indicates that SingTic will be able to process at least a 35% refund. However, as clarified in the announcement made by Stone Forest on 22 Nov 2013, the communication between SingTic and Stone Forest cannot result in any resolution of the matter.
  2. In the Notice to Creditors disseminated by Stone Forest, it is noted that ticket holders who purchased through SingTic are considered to be creditors. We feel that this is an indication that you can request for some claims from Fatfish, so we suggest that you have a look at the notice in detail immediately, perhaps seek advice personally and act accordingly before the stated deadline. Please understand that this is merely our observation, and SingTic shall not be responsible for the success of your claims from Fatfish.

With regards to our discussions with the online payment service providers (OPSP)

  1. We have learnt that payments via eNets Direct Debit is no different from bank transfers. This means that if you paid via eNets Direct Debit, we will process your pro-rated refund via bank transfer and very soon you can expect an email from us to collect your bank details.
  2. As for customers who paid via PayPal and SmoovPay, we are still trying to finalizing the refund mechanism with these OPSP. Apparently this is the first time we are doing this, so we really need more time to make sure that we get everything right. Due to the large number of transactions via these OPSP, we are hoping that the OPSP are able to execute an automated bulk refund so as to minimize human errors. We hope to be able to update you guys on this by mid of this week.

Update - Cancellation Notice of MBC Korean Music Wave in Singapore 2013 (20 Nov 2013)

First, we would like to explain why it's taking us so long to finalize the refund arrangements.

  1. Pursuant to the terms of the agreement signed with Fatfish, Fatfish is responsible for directly liaising with payment gateway service providers to offer refunds to ticket buyers. However, Fatfish has not done so to date, and instead, Fatfish indicated that customers should contact SingTic directly for refunds. This put us in a very awkward position.
  2. The same agreement states that SingTic should transfer ticket sales proceeds to Fatfish periodically before event day. We understood that this is a risky arrangement, but we decided to go ahead with it because we expected that Fatfish would honor the term mentioned in the above point. Given that we are still holding on to part of the ticket sales proceeds, Fatfish's liquidators might deem us as a debtor to Fatfish and tries to claim the remaining ticket sales proceeds from us. This implies that recovering the funds that we paid to Fatfish to enable a full refund to our customer is definitely out of the question. Therefore, we were contemplating on whether we should contact the liquidators to clarify the refund arrangements.
  3. The online payment service providers (OPSP) have been pressurizing us to top up our accounts with them because they are expecting us to start the refund process immediately. We did not agree to the request because this might lead unequal distribution of the refund. Due to the tension between OPSP and us, we are not able to have any clarity on the refund mechanism via the OPSP. Also, we were expecting Fatfish to answer to the OPSP directly.

As you can see, we are caught in between three parties (Ticket buyers, Fatfish's liquidators and OPSP), therefore additional time and resources are needed to seek legal advice.

Based on the recommendations from our lawyer, we have started working on the following since the beginning of this week.

  1. We informed the Fatfish liquidators that we are taking the initiative to fulfill our obligations to our customers and provide pro-rated refund as described in point 6 of our terms of booking. Both parties are now in the process of reconciliation so as to confirm the amount that the customer can claim from SingTic and Fatfish respectively. The result of the reconciliation needs to be agreed in writing and announced officially by Fatfish's liquidators.
  2. We are in talks of the various OPSP to present them our legal position and to negotiate for the pro-rated refund to be distributed in an orderly and efficient manner. The result of the negotiation needs to be agreed in writing.

We hope to have your understanding that only after we have met our objectives mentioned in the 2 points above, we can then execute the refund procedures. We will update you on our progress towards the end of this week. Please continue to give us your support and patience.

Update - Cancellation Notice of MBC Korean Music Wave in Singapore 2013 (16 Nov 2013)

We apologize that we are still unable to confirm the refund arrangement for customer bought tickets through us. Therefore, we feel that it's really important for us to be transparent on what we are working on to conclude the matter.

The fact is that a significant portion of the ticket sales proceeds has been paid to Fatfish Entertainment (Fatfish). We are just bunch of computer geeks who feel that morally and logically, we should simply distribute the remaining proceeds proportionally across the ticket buyers. However, we learnt that this would put us in a very legally vulnerable position due to our contractual obligations with Fatfish and the various online payment service providers such as PayPal and SmoovPay. The liquidation of Fatfish also further complicates the situation.

This is definitely not a computer science problem anymore, so we have started working with a very cool lawyer since early part of this week to establish our legal position and plan for our next action. Our lawyer has provided his initial recommendations at the end of yesterday, and we will be spending the next couple of days reviewing it. Having said this, we target to provide you with further updates around mid next week. Once again, we really appreciate your patience that you have given us so far.

Last, we have noted some of your comments and doubts through social media and our support channel. Being geeks, we find it easier to express ourselves through a FAQ list below.

FAQ

  1. Why SingTic shares the same office with Fatfish?

    The office that we operate in is actually a co-working space. These days it's very common for startup companies to work in co-working spaces. Since Fatfish is our first customer, it made sense to be working close to them.

  2. Why can't I find SingTic staff in the office?

    We are entrepreneurs with various projects in the region, so many times we are somewhere else working on other software projects. And because it's software, we can pretty much do our work from anywhere (this includes working from home)

  3. Why can't we get a full redund from SingTic?

    Already explained above.

  4. PayPal said that SingTic has some balance with PayPal, why can't you start refunding the PayPal customers?

    Yes, we do have some balance with them, but right now it's not enough to make a full refund.

  5. What should I do if the credit card I used to purchase the ticket is not available anymore?

    Once the refund arrangement is confirmed, we will get more information from you to see what's the best way for us to process your refund request.

  6. Will the merchandise purchase be refundable?

    The refund will be based on the total transaction value, so yes. But again, it won't be a full refund.

Cancellation Notice of MBC Korean Music Wave in Singapore 2013 (9 Nov 2013)

We regret to inform you that the organizer Fatfish Entertainment, has cancelled the MBC Korean Music Wave in Singapore at The Meadow, Gardens By The Bay, Singapore on 16th November 2013. Please see the official announcement from Fatfish Entertainment at http://musicwave.sg/kmv/

As stated in Fatfish Entertainment official announcement page, you should seek refunds directly from Fatfish Entertainment or the respective ticketing agents.

Please note that we are only able to process refunds to customers who bought tickets directly from www.singtic.com.

Please also understand that SingTic is not liable for full refunds as stated in our terms of booking, and you shall seek remaining refund with the provisional liquidator appointed by Fatfish Entertainment.

Last, details on refund arrangements will be announced latest by 16 Nov 2013.