Montebello Rockfest has filed for bankruptcy in Canada. Surprisingly, the news comes just one week after the festival received more than $500,000 from the Quebec government. The festival is $5 million dollars Canadian in debt and has about 100 creditors. The Festival hopes to restructure and continue operations in the future. Spokesperson Gilles Corriveau, stated"There is a financial difficulty that, at this point, prevents them from paying everybody that was involved in this last edition."