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Started by Ulrich, December 01, 2015, 16:31:29
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QuoteAfter New Order split up in 2007, Hook retained a 25 percent stake in Vitalturn Company Ltd, a company the band created following the demise of Factory Records in the early Nineties. However, prior to New Order's return in 2011, Sumner, Morris and keyboardist Gillian Gilbert transferred the band's assets and trademark to a new company - New Order Limited - owned by the three of them, paying a five percent royalty to Vitalturn Ltd., of which Hook receives 1.25 percent.
Quote"The reports so far take a number of things out of context. Peter still, for instance, receives his full share of all back catalogue royalties. This dispute relates only to the share of income he takes from our work without him since 2011," New Order clarified of the lawsuit. "Not much more we can say as nothing has been decided by the Court on the facts other than he has a right to proceed with the claim, so this matter is still in play."The band added, "We're getting on with life and concentrating on touring and promoting our new album."
QuoteLess than two years after former New Order bassist Peter Hook sued ex-bandmates Bernard Sumner, Stephen Morris and Gillian Gilbert over their business practices, both sides have reached an agreement.