Peter Hendrickson's 33 year-old Dartmouth professional sound and lighting company Tour Tech East is dead, but one of Nova Scotia's wealthiest families has stepped in to fund Tour Tech East (2015) Ltd. which lists Hendrickson as the company president.

Sean O'Regan, a member of one of  the province's wealthiest families made from car dealerships across the province, is both a friend of Hendrickson and now an investor in the new company. Hendrickson himself is in the process of filing for personal bankruptcy.

Tour Tech East ran into serious financial problems when a loan was called in by one of its major creditors, BDC or the Business Development Bank of Canada, in July.

At the time Hendrickson said he was surprised that BDC made that move because other creditors were satisfied with a revised business plan that he had put together.

A receiver was appointed and the company's assets were frozen, but the company was able to keep meeting its concert and event obligations while it was in financial limbo. It did lose a few contracts because some clients were wary, such as the Atlantic Film Festival.

— Sources: CBC, Chronicle Herald