After months of legal disputes, Australian etailer Surfstitch has settled its ongoing litigation with Three Crowns group.
The two parties met in good faith to resolve the proceedings, with the outcome resulting in an agreed settlement sum to be paid to Three Crowns.
The terms of settlement involve no admissions of liability by the parties, with further proceedings being discontinued.
All commercial arrangements between the parties have now come to an end by agreement.
However, Crown Financial will remain as a shareholder in Surfstitch.
The battle between the two began in 2016 when Surfstitch rejected an initial offer for 100% of the company's shares by Crown Financial group member Coastalwatch Pty Limited.