"We are shocked by what we consider to be financial mismanagement on the part of the promoter which has led to this outcome," the statement read.

"Eventopia is actively pursuing every possible legal avenue against Hounds of Hell Pty Limited and its director AJ Maddah to recover the ticket sales monies that were advanced to Hounds of Hell Pty Ltd.

"In the interim, to ensure fans are not disadvantaged Eventopia has sent an email this afternoon to all customers inviting them to apply for a full refund of their Soundwave 2016 ticket prior to January 31 2016."

Refund requests need to include the name and email address used for the original order.

Refunds will be returned to the credit card used to buy the ticket within 21 days of applying