Update: A spokesperson for SFX has confirmed that the company's chief financial officer and executive vice-president of corporate strategy and development Richard Rosenstein is also the CFO of Michigan JJ LLC.

HART, MI – The long-term future of the Electric Forest Festival might rest in the ruling of a 27th Circuit Court Judge in Oceana County.

Judge Terrence R. Thomas will preside over a hearing at 1:30 p.m. on Feb. 24 that was brought on by two motions filed by AEG Live, a national event promoter that acquired one of Electric Forest's organizers, Madison House Presents, in January.

He will decide if a 2010 lease agreement made by Madison House and the Double JJ Resort's former owners, Progressive Resorts LLC, is part of the collateral that was transferred over to the new owners last November. Electric Forest's organizers claim that it is, meaning that the resort's current owners, Antler Bar Amusements LLC of Delaware and Double JJ Propco LLC, are required to honor the 20-year agreement Progressive and Madison House made.

The disagreement stems from the terms of a November court order that authorized the transfer of ownership to ABA. Progressive bought the Double JJ in 2009 after its owners went bankrupt in2008.

However, Progressive also went into debt and ABA was given receivership with respect to operation of the resort and gave advances to Progressive, according to the motions. ABA eventually acquired the resort on Nov. 18, 2013. It was later arranged so that ABA owned the personal property and maintained the resort's operations while Double JJ Propco was made the owner of the resort's property.

The case has attracted attention nationwide because of the alleged involvement of one of AEG's direct competitors. In the motions, AEG asserts that Progressive and its direct competitor SFX, are in talks to sever the lease from the resort. SFX produces live events, media and entertainment content, with an electronic music focus. Its festivals include Electric Zoo in New York City and TomorrowWorld, which takes place near Atlanta.

RELATED: Electric Forest: A breakdown of legal dispute between organizers, Double JJ owners

They would be able to do this, AEG alleges, by taking advantage of a provision in the court order that lets Progressive take back the resort as long as it pays off the $7,628,522.31 it owes ABA plus any additional advances at an 11 percent interest by 5 p.m. on May 19, 2014.

"Progressive is considering severing the festival lease from the resort by a subsequent sale to SFX of the resort and various other assets, excluding the festival lease," the motion reads, before claiming that Progressive would reclaim or reacquire the collateral through funds provided by SFX.

The motion didn't specify what information AEG Live had seen, but Progressive did sign a memorandum of purchase and sale agreement with a Delaware company called Michigan JJ LLC.

, which was filed with the Oceana County Register of Deeds, details an agreement in which Progressive would sell parts of the resort's land to Michigan JJ.

The document has raised eyebrows because it lists Michigan JJ's chief financial officer as Richard Rosenstein, who is also SFX's CFO and executive vice president of corporate strategy and development, according Edmund Tagliaferri, a spokesperson for SFX.

The case has caused a furor among Electric Forest fans. Many have accused SFX of working to undermine the festival, although the company denied any wrongdoing in a statement.

"There is absolutely no truth to the rumor that SFX is doing anything to halt Electric Forest," it states. "In fact, we agreed to rescue the property owner and then another party began a legal proceeding, much to our surprise. Electric Forest is a great festival held on a great site. We regret the actions of others, but we assure all fans of Electronic Music that we only are interested in expanding the offerings available to EMC (Electric Music Culture) fans."

Lawyers for Madison House Presents, one of Electric Forest's organizers, and ABA declined to comment on the case.

Electric Forest is still scheduled to take place June 26-29. Organizers released its initial lineup on Feb. 14 and used social media to assure fans that the festival would be back this year.

Lisha Arino covers arts and entertainment, as well as other topics, as needed, for MLive/Muskegon Chronicle. Email her at larino@mlive.com or follow her on Facebook, Twitter or Google+.