PROPERTY DEVELOPER Trevor Osborne has agreed to pay consultant Pell Frischmann and its subsidiary Universal Project Management Services £3.1M in damages after a joint venture between the firms went sour, it emerged last week.
Osborne has also agreed to pay all of the consultant's legal costs and has publicly apologised 'for the trouble he has caused' to the group and its chairman Dr Wilem Frischmann.
Osborne and Pell Frischmann fell out over the running of Hawk, a property development and project management joint venture. Frischmann issued a writ last year.
As part of the settlement, Pell Frischmann/Universal will become the 100% owner of Hawk.