Organisers behind the disastrous Fyre Festival have reportedly reached a $2 million (R28.5 million) settlement with ticketholders, meaning that each of the 277 attendees will receive $7 220 (R100 000).
The settlement comes almost four years after the $100 million class-action lawsuit was filed, NME reports.
The publication writes that each attendee could potentially receive less than the settlement amount as Fyre Festival is still in the middle of a bankruptcy case with several creditors.
Quoting Billboard, NME adds that lawyers representing ticketholders for the event have secured a settlement, but still need a vote of approval which is expected to take place on 13 May.
The case was initially filed by US celebrity lawyer Mark Geragos in 2017. "The festival's lack of adequate food, water, shelter, and medical care created a dangerous and panicked situation among attendees suddenly finding themselves stranded on a remote island without basic provisions," he said at the time.
The event promised attendees a lavish island getaway with major guests who would headline the concert of a lifetime. Instead, those in attendance were put up in tents, with minimal supplies and a concert that never came to pass - a far cry from the dream they were sold.
Billy is currently serving a six-year sentence after pleading guilty to multiple counts of fraud.