A Swedish court says the band must repay “loan”
The Hives have been told by a Swedish court that they must repay a “loan” of 5,000,000 Swedish kronor (approximately $775,000) to fellow Swedish band Cardigans, the BBC reports. The loan stems from the management of both bands apparently engaging in some shady “money shuffling.” The Hives, who say there was “no agreement on the loan, no signed documents, no agreements on interest rates or terms of repayment,” will be appealing.
The BBC adds that the dispute is part of a “long-running row” involving several Swedish bands, including Europe, rapper Timbuktu, and The Soundtrack of Our Lives.
The Hives are perhaps best known for their role in the “garage-rock revival” of the early 2000s, along with the Strokes and White Stripes, and have several successful albums and singles. The Cardigans are best known for their 1999 single “Erase/Rewind.”
Author: Ryan King
Ryan King began covering music in 2004 for the Arrow, the student newspaper at Southeast Missouri State University, eventually becoming Managing Editor at that publication. He is also the former Music Editor for OFF! Magazine, an alternative publication published by the Southeast Missourian. Ryan began writing for The Music Universe when launched, but has stepped away to focus on law. He may appear from time to time for reviews.