The Hives have been ordered to play back 18.5 Swedish kronor, the equivalent to $2.8 million, to fellow Swedish rock band, The Cardigans, by a Swedish court.
The pay up comes from Tambourine Studios, a Swedish recording studio that manages both bands’ finances and “routinely shuffled money between the bands’ accounts,” according to BBC.
The Hives are claiming that they had no idea that this would be considered a loan. They do say though, that they will be appealing the verdict with the claim that there was, “no agreement on the loan, no signed documents, no agreements on interest rates or terms of repayment.”
The BBC are also reporting that this might not be the first time that this has happened thanks to the studio. Apparently, this issue involves many more of Sweden’s successful artists including rapper Timbuktu and fellow band, The Soundtrack of Our Lives.