The Hives have been ordered to pay $2.9 million (£1.8 million) to fellow Swedish rockers The Cardigans in a financial dispute.

The two bands became embroiled in the conflict after bosses at Tambourine Studios, which handles both parties' finances, allegedly transferred money from The Cardigans to The Hives to boost their accounts.

According to Afp, Tambourine executives regularly transfer money from acts with high liquidity to others that are less well off, but The Hives had argued they were never informed the cash was a loan from the Lovefool hitmakers.

A judge at a district court in Lund, Sweden, ruled on Tuesday (16Apr13) that while the transfers "shouldn't be viewed as a loan," the funds should be repaid "since there is no reason... to keep the money that came from The Cardigans".

The Hives are also being made to pay the plaintiffs' legal fees.