Bestival co-founder Rob da Bank is being sued after allegedly failing to repay a £650,000 loan.
Loan provider TicketLine Network Ltd has said it personally loaned Da Bank (real name Robert Gorham) about £1million to keep the festival going, but he then refused to pay back about £650,000, Central London County Court has heard.
The loan was taken out in 2018 to save the festival which nearly didn’t go ahead due to financial struggles.
The company claimed at the time that it would feel more secure loaning out the money personally to Gorham and co-director John Hughes rather than the Bestival company, according to Mixmag.
The on-going case is questioning whether or not Ticketline Network Ltd’s loan was directed to Gorham personally and whether he is responsible for paying back £650,000.
Hughes accepted that the money would have to be repaid, however, Gorham allegedly does not and is fighting the court case.
Gorham alleged that he never agreed to a personal loan and should not have to pay it back. He also told the judge he was not very involved in the financial side of the festival.
“This was a multi-million pound, very busy business, with me driving the customer-facing side and the artists, a whole raft of things in the festival world,” he said.
“The finance and accounting was not my department. I never signed up for a personal loan.”
Bestival was last held in 2018 which saw London Grammar, M.I.A and Grace Jones appearing at the Isle of Wight festival that year.
Bestival’s sister event Camp Bestival has continued to operate over the years in Dorset and this year’s line-up includes Rag ‘N’ Bone Man, Rudimental and Sister Sledge. It will be staged over the weekend of July 28-31.