HAMILTON - The Waikato Stadium Trust has settled out of court after a company owned by one of its original trustees tried to liquidate the trust over $70,000 of unpaid work.
Redman Advertising and Marketing last August sought to have the High Court place the stadium trust in liquidation over a 12-month-old bill for $70,000.
Redman Advertising, which was sold to Grey Advertising last year, was owned by Michael Redman, who was one of the three original stadium trustees who resigned in November after the Tainui single stadium concept collapsed.
Mr Redman was unavailable for comment yesterday but his lawyer, David Nielsen, said the trust had offered to settle the case out of court.
"The details are confidential at this stage, but I can say that they have made a settlement proposal and we have accepted it."
Mr Nielsen said the trust would pay a significant amount of money to Mr Redman within the next month, but he could not reveal how much. A court hearing in December would close the case if the trust paid up before then.
Trust spokesman John Parker confirmed that an offer had been made and it had been accepted by Mr Redman, but he would not reveal its details.
He said the trust was keen to put the case behind it and concentrate on the planning of Hamilton's $28.5 million twin stadium plan.
Payment deal settles Waikato Stadium bill case
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