A $3-million settlement has been reached between the organizers of the Formula E race and the City of Montreal.
The amount of $3 million paid out by the city — which was authorized under an out-of-court settlement — brings the case to a close and puts an end to the lawsuit against Montreal Mayor Valérie Plante.
Denis Coderre’s administration had organized the Formula E race in downtown Montreal in 2017. After her election in November of the same year, Plante chose to cancel the editions planned for 2018 and 2019.
The promoters of Formula E then responded by personally suing the new mayor for $16.1 million.
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“We are happy to finally turn the page on this file and to have reached an out-of-court settlement that is in the best interest of the city and the citizens,” said Benoit Dorais, president of the city’s executive committee.
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“Although our position and our arguments were solid, a negotiated solution was the way to go. This settlement of $3 million compared to a lawsuit of $16.1 million is made for the benefit of Montrealers. It makes it possible to end this saga, to reduce the costs of preparing for a court hearing and to end all Formula E Operations claims.”
—With files from Global News’ Kalina Laframboise
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