'Ooky is reportedly suing his former bandmates after claiming he lost in the region of £2Million after the groups remaining three members - Bernard Sumner, Stephen Morris and Gillian Gilbert - reportedly "licensed the group's name to a new company."
According to The Guardian, the bassist is "accusing them of secretly 'pillaging' the group’s name and starving him of cash... (he) says he is already £2.3m out of pocket owing to his 'former friends' in the group. He claims they have asset-stripped the New Order name, keeping him in the dark about what they were up to until the move became a 'fait accompli'."
The report goes on to state that: "The case hinges on events in 2011, when the remaining three members of New Order formed a new company, which Hook claims was kept secret from him. All agree that he was not present when the other three resolved to licence the use of the New Order name to the new company for 10 years."
Hook's Barrister had another way of describing the scenario. Mark Wyeth QC said: “It was as though George Harrison and Ringo Starr had got together at George’s house one Friday night and had acted together to divest Paul McCartney of his shareholding in the Beatles, and didn’t tell Yoko about it either."
New Order "disappointed" in Peter Hook lawsuit https://t.co/pQcHpw0yUW
— Rolling Stone (@RollingStone) December 1, 2015
The court heard that Hook, who hasn't played with the band since 2007, nets a "tiny fraction" of what Sumner, Morris and Gilbert earn - which is said to be in the region of £7million in the last 4 years.
Judge David Cook has reportedly "cleared a way" for Hook to pursue a full trial, but has encouraged both parties to try settle their difference because the legal fees are set to be in the region of £1million.
New Order have since released a statement, which reads: "he 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. 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... We're getting on with life and concentrating on touring and promoting our new album."
Meanwhile, Hook has just announced his rescheduled Irish dates.