Tambourine Studios is a recording studio located in Malmö, Sweden and has recorded for many artists such as: The Cardigans, The Hives, Europe, and Saint Etienne to name a few.
According to Agence France-Presse (AFP), The Hives have been told they owe $2.9 Million (In USD value) to fellow Swedish band ‘The Cardigans’ in a loan unbeknownst to The Hives.
The recording Studio also handled the bands finances and is “standard practice” for them to use money from other bigger bands to invest in the smaller ones. The court ruled that while this transaction was not a loan per se, must still be repaid and The Hives must pay for the legal fees as well.
This is not the only morally questionable action taken by the studio. The band “Europe” has claimed that numerous documents contain forged signatures from the Studio.
These scandals seem to be the fault of Tambourine Studios but the ones receiving the penalties are the bands themselves. Let’s hope the studio gets their act straight