Bisnis.com, JAKARTA- Cold play and his former manager are continuing in the High Court with claims running into millions of pounds.
Dave Holmes, who managed Coldplay from 2005 to 2022, sued the group in August for £10 million, or approximately IDR192.33 billion, for “unpaid commissions” owed to him.
He said the money was tied to two unreleased albums he worked on with the group.
But in a new lawsuit, the band rejects Holmes’ claims and seeks damages of £14 million, or 269.10 billion rupees, because they say their former manager let touring costs inflate.
The British group also accused Holmes of using his relationship with the group to obtain a loan of $30 million, or IDR 471.27 billion, from concert promoter Live Nation.
“To the best of our knowledge, Holmes used the money obtained from the loan agreement to finance real estate development projects in or around Vancouver,” the group alleged in court documents reported by the Guardian.
“It can be concluded that Mr. Holmes was only able to obtain a $30 million loan from Live Nation with a fixed annual interest rate of 2.72%, based on his position as director of Coldplay.” , the statement continues.
Court documents also accuse Holmes of failing to properly supervise and control the tour budget.
The newspaper said expensive equipment had been ordered or purchased but was not fit for purpose.
These included a $9.7 million video screen so large it could not be taken on tour, as well as 16 specially commissioned stage props costing €10.6 million (£9 million) and which turned out to be unusable.
Asked about the counterclaim, spokesperson Holmes said Coldplay knew they had problems with their defense.
“Accusing Dave Holmes of ethical violations and other trumped-up wrongdoings will not distract from the real problem that Coldplay had a contract with Dave, they refused to honor it and they should pay Dave what they owe. is of.”
The matter may go to court if the parties cannot reach a settlement.
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