David Tua. Photo / Greg Bowker
Heavyweight boxer David Tua is understood to have reached an agreement with his former managers, settling a long-running court battle.
A source close to the two-day judicial settlement conference in the High Court at Auckland said the parties had reached an agreement that was acceptable to both sides.
The terms
were not made public.
Lawyers for Tua spent the past two days in the conference, trying to reach a settlement with Tuaman bosses Kevin Barry and Martin Pugh.
It is understood the conference has resolved all matters between the parties, preventing the need for a trial that was scheduled for next year.
The hearing was held in chambers, closed to the public and media.
Barry recently told Sunday News he hoped the court date could pre-empt a trial and bring a financial settlement satisfactory to both he and Tua.
Las Vegas-based Barry, and Pugh, who lives in Sydney, were present for the fixture, which began on Monday.
Tua confidante Va'aiga Tuigamala - who has been named as a defendant in earlier court actions, but was not at court yesterday - told the Herald the six-year dispute needed to be resolved.
"I think it's in everyone's best interests now to see what is the best result."
Tua has been battling Barry and Pugh since 2003, over court-held money he says is owed to him by management firm Tuaman.
One estimate published in the Herald after a hearing last year put the total - understood to include monies from the sale of a Pakiri property and an Auckland apartment - at up to $8 million.
Those court documents show Tua earned about $20 million in his career, roughly $5 million of which came from his losing bout against Englishman Lennox Lewis.
Tua's career would appear to be on the rise again after the 37-year-old defeated fellow heavyweight Shane Cameron this month.
