The epic battle over the $2.7 billion Thyssen family fortune came one step closer to being settled on Friday after a writ was filed in the Supreme Court.

Rumours have abounded over the summer that a settlement is being worked out among the parties in the complex legal wrangle which has cost an estimated $100 million.

But now a writ has been filed which is understood will give court approval for any settlement put forward by the parties.

The feud between art collecting father, Baron Hans Heinrich Thyssen Bornemisza and his eldest son Georg, which has been raging in Supreme Court for a year and a half, came to a halt dramatically four months ago.

The Baron, 80, signed over his family business and fortune to a continuity trust which was formed in 1983, which made his now 50-year-old son the principal beneficiary.

In court the Baron claimed that the trust and his son owe him $232 million in arrears with inflation and loss of value and he wanted to wrest control back of the empire.

But the court case came to an abrupt halt in March when Justice Dennis Mitchell quit in a row over pay and conditions, leaving the trial in limbo.

The Governor and the Attorney General's office had been looking for a replacement when rumours in legal circles said there was a deal on the table in London. None of the lawyers will talk publicly about the deal because they are sworn to secrecy.

But on Friday a writ was filed by the Favorita Trustees Ltd., one of the main trusts involved in the court case.

The Royal Gazette understands that the trustees of the family fortune are seeking court approval which would be needed to accept any settlement. The writ, however, does not state this objective, but it is understood that the parties are putting themselves in a position to get court approval to sign an agreement.

The writ names the Baron, his Spanish beauty queen wife Carmen "Tita" Cervera and three of the Baron's children, his fifth wife's son who he has legally adopted, his three grandchildren, a trust, a company and the Attorney General.

Calls to Appleby, Spurling & Kempe, who filed the writ and also act as the local lawyers for the Baron in Bermuda, were not returned. Calls about the writ to other parties involved in the case were also not answered.

But two lawyers not connected to the case said the writ was the first step in the settlement process. One said: "It can indicative of somebody seeking court approval for a court settlement. It is sanctioning an agreement."

Another said: "It is a part of the settlement, for sure. But no one will tell you that as they are all sworn to secrecy."

A team of 32 lawyers from both Bermuda and London have generated about 600 pages of transcripts a week. There are 121,959 documents entered so far into evidence.

The opening statements took 15 months to complete, and Georg's lawyers had just begun their opening when the trial judge quit.

If the court case is not settled the Governor Thorold Masefiled, Justice Dennis Mitchell and the Bermuda Government among others could be sued for the way in which the case was handled.