International businessman Vladislav Doronin will remain in full control of luxury hotel group Aman following a successful settlement in the High Court in London.
The group, which has 20 hotels around the world, including Amanpuri on the island in Phuket, Thailand, and Le Mélézin at Courchevel 1850, France, has been the subject of a long-running court dispute.
Former co-owner Omar Amanat's company, Peak Hotels & Resorts Limited (PHRL), brought a claim in the High Court of England & Wales.
Amanat and Doronin bought the business together in early 2014, but the relationship soured shortly afterwards.
As part of the settlement, PHRL has agreed to retract all allegations made against Doronin, his businesses and business relationships.
PHRL, now in liquidation, has also agreed to pay compensation of £12m in respect of Doronin's costs, and those of his fellow director, Johan Eliasch who was a party to the court case.
Doronin said: "I am delighted that my position has been fully vindicated in this settlement. I was always sure of this outcome and it is great news that the truth has prevailed. This was a long process and the claims brought by PHRL should never have been started. However, I am excited at being able to continue what I started: building this business, one of the most fantastic brands in the world, without any further distraction."
Although Doronin has withdrawn his counter claims, he intends to "carry on the fight" by pursuing personal claims against Amanat in the New York courts.
He added: "I have always acted in the best interests of Aman, whilst having to deal with the disruptive actions of Mr Amanat, who Mr Justice Henderson described during this process as a man with 'an established record of dishonesty'. So I intend to pursue my personal claims against Mr Amanat in the New York Courts because it's my social responsibility to make sure he cannot defraud others in this way - I will carry on the fight."
Following the settlement, Amanat no longer has any association or connection with Aman. AH Overseas Ltd is the new holding company that owns the luxury hotel group.
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