U2′s Adam Clayton Sues The Band’s Financial Controller
By Travis Woods
Well, the hits just keep on coming for obscure Irish rock act U2 – it seems like pretending to carry the weight of the world on your shoulders isn’t always enough to deflect bad luck. In the wake of a massive tour postponement due to frontman Bono’s emergency back surgery (insert your own ‘he’s-carrying-the-weight-and-pain-of-the-world-and-it-hurt-his-back’ dig here), Spinner reported today that U2 bassist Adam Clayton is suing the band’s financial controller, Gaby Smyth, for alleged negligence.
Smyth “controls the band’s money and knows the intricacies of the group’s investments and holdings,” and, along with “two other accountants in his firm” were named in legal papers filed in Dublin’s High Court. While the accusations have not been made public, Spinner reports that “the case may have its roots in money management issues that surfaced during Clayton’s recent High Court case against Carol Hawkins, the bassist’s former housekeeper, who allegedly defrauded him of up to €1.8million.”
“…the legal war just might rip the biggest band in the world apart, as the notion of the bassist taking on Smyth in court threatens to expose every financial detail of the band and its related companies.
“Smyth was responsible for moving the band’s publishing company to Holland in 2007 in a move that save the band millions on royalties it would have otherwise paid under Irish tax law. That decision in Ireland led to heavy criticism of Bono, who took earnings out of his homeland while encouraging the country to aid in anti-poverty initiatives.”
In a related story, Irish scientists are now hard at work, teaming up with various groups of musicologists, designers, and physicists from all over the world, in the hopes of constructing the world’s most miniscule and tiny violin for which the Irish people can play for the band later this year. It’s moment of hope and unity for the scientific nations across the world; kind of like that movie Contact, but, you know, not awful.
What do you think of Clayton suing the band’s financial controller?
Monday, June 14, 2010 12:53PM
It seems that Clayton's previous court case and financial accounting uncovered quite a mess and probably some very obvious financial misappropriation.
The real irony here is that Adam Clayton had to be the person to raise the alarm. Bono has very snidely spoken about Clayton in two different biographies, while curbing such talk of himself. It speaks volumes that now that the rock is lifted, an honest telling — and not one covered in refracted glitterball beams — will finally come out and shed real light on all the history behind U2 and their heavily guarded financial concerns. I have no horse int he race or could care less, but I can think of some people who do, ahem. Sorry, B.
If it goes in that direction, I don't see them staying together and I don't see this as the last court case. Bono speaks a lot about 'karma' in his biography 'Bono' with Michka Assayas and moving his publishing company out of Ireland to avoid taxes just seems like the beginning of the end. I find it troubling that with all the problems that exist with poverty and homelessness in our own back yards, every celeb d'jour needs to make some pitch for Africa or some other cause. While I understand a need for aid, I don't see it as an alternate path and avoiding one's own community.
However, U2's staple is redemption, so I wouldn't count them down or out.
Tuesday, June 15, 2010 8:45AM
@Steffan Piper: In which biographies does Bono speak "snidely" about Adam Clayton?
Tuesday, June 15, 2010 9:12AM
"J. Mello",
Read 'Bono in Conversation' with Michka Assayas. Bono goes to some length detailing Adam's misdeeds and does speak snidely of him while saying nothing of himself and what he was up to during those same years and continually shifts around when his co-author gets too personal.
Also read U2 by U2 and you can find the same thing. Bono's attitude towards his bandmates is not equal and is easily evinced by taking a hard look at what he says about them and what he doesn't say about himself.
I'm as big of a U2 fan as anyone, so don't get me wrong as we are talking about people here and not some abstract deities.
All the best …