It became official today as Courtney Love announced the disbanding of Hole. Here is an excerpt from a statement issued by Love today (May 23):

"Since Geffen Records closed during the promotion of our last record,  there have been a lot of distractions. Universal's lawsuit against us made it impossible for us to find a new record company despite overwhelming interest from other labels. After three years of waiting, Eric and I have decided to put Hole to rest."

Love and Geffen are still battling out their differences in court, Geffen sued Hole for breach of contract in 2000 and Love filed a counter suit last year, with the case scheduled to go to trial next month.  Meanwhile, Love and the former Nirvana members are embroiled in a legal wrangling to determine who controls the fate of Nirvana�s music. 

According to Allstar News, Love is currently working on a project with Linda Perry (4 Non Blondes) and former Hole drummer Patty Schemel. 

more on Courtney Love