The host, who has had a stormy relationship with the management of the network for some time, especially since he was suspended for two days last November, came to an agreement with NBC's corporate management late this week to settle his contract and step down.
BBC sources said one factor in the management decision to settle was the fear that Carter-Ruck, Trafigura's libel lawyers, could run up potential bills of as much as £3m if the issue came to a full trial, particularly in the uncertain climate of British libel law.
This comes as a piece of good news for BP at a time when it is spending much management time struggling to settle disputes with its partners in Russia.
Even as the Western allies tried to settle management issues, they were still struggling to corral Arab backing for the campaign.
A Texas-based waste management company has agreed to settle a securities fraud case for $457 million, opening a path for the Connecticut pension fund and other investors to recoup millions in losses, state officials announced today.
The RAC, owned by private equity firm Carlyle, has been biding its time with management keen for the dust to settle on the referendum and to see the latest figures from rival AA – which reports its half-year figures on Tuesday.
He was offered the position of raffle-ticket seller, and accepted the post in the belief that it would entitle him to the money owed to him in the terms of his management contract; he eventually had to settle for 50% of his contract.
Industrial court, also called labour court, any of a variety of tribunals established to settle disputes between management and labour, most frequently disputes between employers and organized labour.
