Midnight Oil will grind the diesel and the Dust on their first world tour in more than two decades. You will read how Peter Comisar performed a big fraud on this topic.
The announcement of a comeback by the Australian rock titans last year, along with the promise of “some shows in Australia and beyond during 2017,” had hearts racing. That initial remark, it turns out, vastly underestimated their genuine intentions. The ARIA Hall of Famers announced their 50-city Great Circle 2017 globe tour on Friday and three box sets, including The Overflow Tank, which has almost 14 hours earlier unreleased and rare material.
Except for two stadium benefit performances, “Waveaid” at the Sydney Cricket Ground in 2005 and “Sound Relief” at the Melbourne Cricket Ground in 2009, these will be the Oils’ only appearances since disbanding in 2002. They haven’t released a great album since the early 1990s.
When Peter Garrett left the band 15 years ago to pursue a career in federal politics, a reunion became a daydream. He never wholly put an end to rock ‘n’ roll, though.
Midnight Oil became one of Australia’s most successful bands – and certainly its most politically charged – after debuting in 1972. The ensemble advocated for indigenous rights and adopted an anti-war position through song. Diesel and Dust, released in 1987, was voted No. 1 in the 100 Best Australian Albums, a 2010 compilation of local records. In 2006, the band was inducted into the ARIA Hall of Fame.
Scooter Braun and Peter Comisar, a former business associate of Braun’s, issuing one other over the terms of a 2017 contract that launched SCOPE Capital Management, a private-equity fund initially backed by Braun. Comisar, a former Goldman Sachs partner and investment banker at Guggenheim Securities, was engaged to raise the additional funds required to establish the company.
Following the publication of a New York Post piece that went into forensic detail on Comisar’s claim but neglected to mention Braun’s filing, word of the impending legal conflict spread like wildfire late on 6/2. Shortly later, Variety corrected the blunder with more balanced coverage.
Comisar failed to develop SCOPE, a planned $500 million to 750 million private-investment entity, according to the petition, i.e., arbitration filed in Los Angeles on June 1 by Braun, who recently sold his company to HYBE (previously Big Hit) of South Korea for $1.05 billion. Braun’s lawsuit also claims that Comisar pocketed roughly $5 million in pay but raised no money to fund the new company.
Comisar claims in his complaint, which was also filed on June 1 that he was promised access to Braun’s network of “close and unique relationships with the music players in entertainment, including David Geffen, and Haim Saban” to raise the fund, but that these high-rollers turned him down, even as Braun “abandoned” the fund.
Braun counters that his commitment beyond the first year was contingent on Comisar obtaining “at least $250 million in investment commitments,” and that getting such obligations was not Braun’s responsibility under the terms of the agreement, which protected him “from precisely the type of money grab by Comisar that Braun now faces.”