AMVIC cancelled the business licence of Festival City Finance (1987518 Alberta Ltd.) on Feb. 3, 2020 due to concerns over numerous consumer complaints and business practices that placed consumers at financial risk. One salesperson working for the business has also had their salesperson registration cancelled.
Festival City Finance’s business licence was suspended on Nov. 19, 2019 based on three consumer complaints. The suspension was to remain in effect until all consumer complaints had been addressed. Additional complaints were received for a total of seven consumer complaints, primarily regarding alleged unpaid liens, which is in contravention of Section 31.5 of the Automotive Business Regulation. An unpaid lien could mean a consumer may end up making payments on a vehicle they no longer have. Additionally, some consumers may be at risk of having their vehicles seized due to unpaid liens. AMVIC is actively investigating all of the consumer complaints.
AMVIC began further action to cancel the licence issued to Festival City Finance based on the additional complaints and the business filed an assignment into bankruptcy on Jan. 15, 2020. Ernst & Young Inc. has been appointed the trustee in bankruptcy. Festival City Finance was licensed for the activities of agent or broker; wholesale; and retail sales. AMVIC has the authority to take action in accordance with remedies and enforcement outlined in the Consumer Protection Act.
Anyone who has concerns over recent dealings with Festival City Finance should contact AMVIC’s consumer services team online, via email or by phone: