The Grass Is Greener Reportedly Used Funds To Prop Up Businesses

The Grass Is Greener festival officially went into administration in the final days of 2022, following a disastrous year in which numerous artists pulled out at the last minute and organisers cancelled two legs of the festival. As reported by the Gold Coast Bulletin, the festival’s parent company Hand Picked Events and Marketing – founded by Oliver Fines-Frost – reportedly owed $2.5 million dollars to various creditors when it went into administration.

A new article in the Bulletin has outlined how Fines-Frost allegedly used festival funds to prop up his other businesses, including an F45 gym and multiple restaurants. The Bulletin also revealed that The Grass is Greener’s biggest creditor was YouTuber David Nicholas – aka The Captain Davo – who reportedly pitched in $1.25 million.

Hundreds Of Thousands Of Dollars Went To Other Businesses

The biggest creditor in the failed Grass is Greener festival is a YouTuber famed for live-streaming high-stakes gambling exploits. SEE WHO ELSE IS CAUGHT UP IN THE MESS: ? https://t.co/OKYNAIUiyt pic.twitter.com/7BTZvvH4Bp

— Gold Coast Bulletin (@GCBulletin) February 3, 2023

According to the report, that more than $760,000 of festival money was allegedly used to support other businesses in Frost’s portfolio. They include the restaurants Maman (which he owns with Ironman Matt Poole), Naami, Luciana Tapas, and Milky Lane in Surfers Paradise, all of which Frost and festival co-founder Jonathan Eddings have interests in.

Another business that reportedly received an interest-free loan from the festival was an F45 gym in Lismore, which Frost shares with Tenzin Stark – a DJ who played The Grass Is Greener on multiple occasions. The gym reportedly owes $53,000 to the company behind Grass Is Greener; it trades via a company called Dynamite Holdings – Eddings is also a shareholder.

The most intriguing revelation is the fact that YouTuber David Nicholas –who shot to fame with various gambling videos and is now a self-styled venture capitalist – is the largest creditor. The Bulletin reports that Nicholas’ company, DN Holdings, loaned Hand Picked Events and Marketing $1.25 million just before it went into administration.

Under the deed of company arrangement that creditors recently voted on, the loans will never have to be repaid. Interestingly, the Grass Is Greener festival may not be dead: SearchParty app founders Jade and Jessy Mulholland created a new company (involving shareholders of DN Holdings) with an interest in purchasing the IP of the event. Read the full piece from the Gold Coast Bulletin over here.

The Grass is Greener 2022 — *The Grass is Greener, Gold Coast, 2022 | Credit: Facebook*

The wheels began to fall off just a month before The Grass Is Greener was scheduled to kick off in October, when Sydney drill band ONEFOUR announced they’d no longer be playing the festival because organisers had “failed to honour their obligations”. Just two days later, organisers cancelled the Canberra and Geelong legs of the festival.

“The reason for cancellation doesn’t rest upon a single factor,” organisers said in a statement at the time. “Rather, it’s related to the culmination of multiple elements that have affected not only us but our industry partners and siblings across the entire event industry in the COVID/post-lockdown period.”

Numerous other artists pulled out, including headliners Ty Dolla $ign, ZHU, and Maya Jane Coles, and a slew of other small lineup changes were made in the week before the festival.