Jetset Travelworld Limited and Concorde International Pty Ltd (a subsidiary of Stella Travel Services Limited) have announced that they have agreed to resolve out of court the claim by Jetset Travelworld and the cross claim by Concorde ebign fought in the Supreme Court of New South Wales
The proceedings which related to a consolidation agreement struck in 2003 between Concorde and Jetset Travelworld, were settled out of Court to the satisfaction of all parties, with the terms of the settlement not being disclosed under a confidentiality agreement with each party withdrawing its claim.
Michael Reed, Jetset Travelworld CEO and Keith Stanley, Stella Travel Services CEO, said in a joint statement, “We’re pleased to have the matter resolved on amicable terms and we are now looking forward to focusing on the continued growth of our respective businesses.”
Report by The Mole
