People who lent money to Fyre Festival before it collapsed are now trying to force the company that ran the event into bankruptcy following the arrest of William “Billy” McFarland, the man behind the ill-fated music festival.

Hyped as “the cultural experience of the decade,” Fyre Festival was to be held in the Bahamas over two weekends in April and May featuring artists like Migos and Lil Yachty. But the festival proved to be a flop when attendees, some of whom paid thousands of dollars, arrived at the private party venue...