The city of Montreal has finalized a more than 3 million compatible solution with the promoter of Formula E racing to end a legal alliance that has been going on for years.
The board approved the payment of $ 3 million to Formula E Operations Limited (FEO) to close the file and drop the lawsuit against Mayor Valerie Blande.
The Formula E race took place on the streets of Montreal in 2017, led by the administration of former mayor Denise Coderre, who was widely criticized about the event and did not get the fame he wanted. Shortly after arriving at City Hall, Valerie Plant declared a breach of contract, citing “a major financial failure” for the other two editions of the controversial race.
FEO Respondent Ms.Me Blonde initially demanded $ 33.1 million from him, before the amount was reduced to $ 24.8 million and then $ 16.1 million.
The $ 3 million settlement is in Montreal’s favor, compared to the $ 16.1 million lawsuit. This will allow the Coalition to finalize the costs of preparing for the trial and to put an end to all OEM claims, ”said Benoit Dorais, Chairman of the Executive Committee, in a statement.