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The Pemberton Music Festival has been bleeding money from the start, with the financially-troubled companies behind it declaring bankruptcy last month after losses of more than $47 million, according to a bankruptcy report by trustee Ernst & Young obtained by Postmedia.

A preliminary evaluation of the Pemberton Music Festival LP and 1115666 B.C. Ltd.’s assets found they had about $3.3 million in cash.

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But as of Tuesday’s creditor meeting, there have been 144 claims filed totalling close to $10.8 million, said Ernst & Young’s Kevin Brennan.

The claimants includes 109 ticket holders claiming $95,056 and 33 vendors claiming $10.6 million. The largest claim is from ticket vendor Ticketfly, which has filed a claim for $7.9 million.

Two secured creditors — Jan Spec, which is owed about $2 million, and 1644609 Alberta Ltd., which is owed about $1.5 million — have withdrawn any claims.

Brennan said many ticket holders have already been reimbursed by going through their credit card companies, but it’s still too early to tell whether everyone is going to get their money back.