Sweden’s hard working altrockers The Hives have been ordered to pay 18.5 million kronor ($2.87 million) to their compatriots the Cardigans by their country’s district court in Lund, it’s reported
The court made the ruling on a financial dispute, which is one of several Malmö’s Tambourine Studios are involved in, posts Billboard.com
According to reports, Tambourine also handled the two bands’ finances. Tambourine is said to have stated that it was standard practice for the company to transfer money from bands with bigger accounts to others less well off.
The Hives claimed they were not informed that the amounts in dispute were actually received as a form of loan from the Cardigans.
The court’s ruling was reportedly explained with the reasoning that, though the transfers “shouldn’t be viewed as a loan,” the cash ought to be repaid “since there is no reason… to keep the money that came from The Cardigans.”
Reports also show that the Hives could get stuck with the legal fees.
Both parties have kept their lips sealed on the matter.
The Cardigans most popular hit came in the late ‘90s. “Lovefool” from 1996, featured on the “Romeo and Juliet” feature film soundtrack and peaked at No. 2 in the U.K.
The Hives are scheduled to tour extensively this summer making major festival appearances throughout Europe and the UK.