[music] Northern Rock — Miranda Sawyer profiles and interviews New Order. ‘…everything collapsed. New Order came out owing £600,000. Then, in the midst of the carnage, someone found a piece of paper signed by the Factory directors that read: “The musicians own the music and we own nothing.” Which meant that the bands could sign huge publishing deals for all the tunes they’d already written, as well as recording contracts for future music. London records stepped in to claim New Order, “like the cavalry”, says Sumner. Chaos all round. The piece of paper effectively whisked Factory’s only assets away from the hands of the debtees. Sumner remembers going up in front of the liquidators. “They just couldn’t believe this piece of paper existed. But it did. No contract, just this bit of paper. They tried to make out that we’d written it a couple of days earlier, but honest to God we didn’t. But,” he grins, “if it hadn’t existed, we would have written it…”‘
This entry was posted on Monday, August 13th, 2001 at 11:53 am and is filed under Music.