Lotus's ex-boss Dany Bahar settles unfair dismissal claim
The former chief executive of sports car firm Lotus has reached a settlement over an unfair dismissal claim weeks before a High Court hearing.
Dany Bahar claimed he was fired ahead of the firm's sale to DRB-Hicom, which would have earned him 5% of its value.
Lotus, based in Norfolk, and its new parent firm had claimed they were entitled to dismiss Mr Bahar.
The £6.7m claim by Mr Bahar was due to be heard at London's High Court Queen's Bench Division on 3 June.
The Group Lotus board dismissed Mr Bahar in June 2012 and replaced him with senior executive Aslam Farikullah, 51.
Mr Bahar's three-year contract had earlier been renewed for a further period up to the end of September 2015.
In a writ presented to the High Court in London, Mr Bahar claimed new terms in the contract said that in the event of the sale of any part or the whole of Group Lotus, he would be entitled to 5% of the purchase price.
Group Lotus and DRB Hicom said they would not be drawn into commenting on the details of Mr Bahar's settlement.
Jean-Marc Gales was appointed new chief executive on 1 May this year.