K-Foundation nailed- Library of Mu

Library of Mu record:
Title: K-Foundation nailed
Date: 11 December, 1993
Journal: NME
Author: -
Type of resource: News items
Status: original
No. views: 3524
Description: K.F fined 9,000 for reprinting 'holed' money. May be charged


K-Foundation nailed

By - (11 December, 1993, NME)

The K-Foundation may be charged with defacing the Queen's currency following their antics at the Turner Prize art awards last month.

A source close to the K-Foundation say the bank which loaned Foundation members Bill Drummond and Jimmy Cauty 1 million pounds deemed the money unusable after the pair had nailed it to a board as part of their stunt to upstage the Turner award. The pair face a possible fine - which could run to thousands of pounds - to recoup the cost of manufacturing the cash.

Journalists and critics were invited to a field in Surrey on November 23 to view the cash, as a piece of art titled "Nailed To The Wall", before travelling to the Tate Gallery to award 40,000 pounds to Rachel Whiteread, the Turner Prize winner, for the worst piece of contemporary art.

A representative for The K-Foundation's accountants said the bank were considering further action, but the bank denies that it has any contact with Drummond and Cauty.

NME understands that the fine has not deterred the pair from going ahead with plans to stage a future exhibition titled "Money: A Major Body Of Cash" early next year.

The 8,400 pounds that went missing from the 40,000 pounds award money has yet to be recovered. Press reports last week suggested that several magazine journalists may have helped themselves to some of the money and one is rumoured to have tipped a chauffeur 100 pounds on leaving the Tate.

* Meanwhile, mystery surrounds the reissue of The KLF/Extreme Noise Terror collaboration "3AM Eternal" on the Discipline label.

The single was issued on mail order only flexi only in the wake of their infamous appearance at 1992's Brit Awards. Insiders suggest that the latest release is an attempt by bootleggers to cash in on the K-Foundation's recent publicity.

A spokesperson for Drummond and Cauty told NME: "We have no idea who is behind this release. The KLF ceased to work within the music industry some time ago."

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