Frustration of contract for pop concert performance
Ganerco SA v ICM/Fair Warning (Agency) and Missouri Storm (1995) (QBD (Garland J) 31/3/95).
Plaintiffs were Spanish pop concert promoters, the second defendants were the corporate persona of the pop group 'Guns 'n' Roses'. The first defendants were theatrical tour organisers which undertook the organisation of a European tour for the second defendants in 1992. The plaintiffs contracted to promote a concert on 4/7/92 in Madrid guaranteeing the second defendants $1.1m or 90 per cent of the net door receipts whichever was the greater. The plaintiffs paid the second defendants $412,500 on account and were due to pay a further $362,500 on account on 30/6/95 but due to a bank error this sum was not paid. For safety reasons the Madrid City Council and the Spanish Central Government banned the use of the Vincente Calderon Stadium which had been booked for the concert on 1/7/92. The plaintiffs were unable to book any other venue and on 3/7/92 the Madrid concert was cancelled.