The
Hives have been ordered by a court in Sweden to repay 18.5 million Swedish
kronor (£1.9 million) to fellow Swedes The Cardigans.
The legal dispute involves Tambourine Studios, a
recording studio in Malmo that managed the two groups' finances.
According to Radio
Sweden, the studio routinely shuffled money between the bands' accounts for
a number of years.
The Hives claim they were never told that some of the
money they were receiving was a form of loan.
But a district court in Lund, southern Sweden, ruled
the money still had to be paid, along with more than five million Swedish
kronor (£500,000) in legal fees.
"It is claimed that we borrowed money and simply
do not want to pay it back," The Hives said prior to the judgement.
The band insist there was "no agreement on the
loan, no signed documents, no agreements on interest rates or terms of
repayment".
Their lawyer said they would appeal the verdict.
Fronted by Pelle Almqvist, The Hives achieved
mainstream success in the early 2000s with their punk-style rock, energetic
live shows and co-ordinated black and white outfits.
The Cardigans, fronted by Nina Persson, are best
known for their 1997 hit Lovefool and the 1999 single release Erase/Rewind.
The dispute is part of a long-running row involving
many of Sweden's most successful bands, including Europe, rapper Timbuktu and
The Soundtrack of Our Lives.
Authorities in Sweden are investigating claims that
artists' signatures on official documents have been forged.
Source: BBC
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