A $1.25m loan from a South Australian entrepreneur and influencer, secured in the dying weeks before Oli Frost and Johnny Eddings’ The Grass is Greener music festival lurched into voluntary administration, has come back to haunt the pair.
Gold Coast entrepreneur Oliver Fines-Frost and his business partner Johnny Eddings, along with five of their companies, are being sued in a debt recovery claim filed in the Brisbane Supreme Court in September 2024 by DN Holdings, which lists its sole director and shareholder as David Nicholas.
They are defending the claim, which their lawyer said was “wholly denied” by his clients.
Mr Nicholas aka “The Captain Davo”, from Adelaide, shot to fame online as a high-stakes gambler before branching out as an entrepreneur and investor.
He has almost 800,000 followers across various social media platforms.
In a statement of claim filed with the court, DN Holdings is seeking to recover a $1.25m loan to Hand Picked Events and Marketing – the company behind the failed music festival The Grass is Greener.
The loan was allegedly guaranteed by Mr Frost, Mr Eddings, and their companies.
The companies behind Maman Bar and Kitchen, Milky Lane Surfers Paradise, Lucia Tapas Garden and Naami, all went…