The Magnetic World Music Festival just capped off its fourth event in Halifax, but its founders may be stuck in the proverbial mosh pit thanks to a New York-based lawsuit.
Legal records from the New York County Supreme Court reveal that Magnetic World Music Festival Inc., the company behind Halifax’s biggest hip-hop music event, is being sued by U.S.-based financing company Orange Funding LLC for $285,118.75, interest on this amount at a statutory rate of nine percent and attorney fees at $57,023.75.
According to the records, one of the company’s directors, Willem Gagnon, has been successfully served notice of the lawsuit. It does not detail whether or not its founder and CEO, Bradley “Brady” Dedam, has been served.
The formal complaint, filed on April 28, 2026 and successfully amended on June 24, 2026, alleges that Magnetic World defaulted on financing they acquired from an agreement they entered into on May 5, 2025, months before the Halifax’s third Magnetic World festival and the fourth overall.
It also states Dedam was the one to execute a personal guarantee to enter into the funding agreement. The funder says in the suit that they demanded the $285,118.75 plus interest be paid but claims the defendants, Dedam and Gagnon, have “failed, refused and neglected to pay said sum.”
Magnetic World Music Festival and Dedam were both reached for comment but did not answer before publishing date. Orange Funding LLC also did not answer when requested for comment.
None of the allegations from Orange Funding LLC have yet to be proven in court.
