Barons Financial Services (BFS) and its London-based subsidiary has been resolved.

A claim originally begun in the Bermuda Supreme Court has been settled by a "consent order'' in the Queen's Bench Division of the High Court in London, a press release yesterday stated.

"The consent order contains terms in full and final satisfaction of all claims and counterclaims between the parties,'' lawyers for BFS said in the press release.

Terms of the settlement were not disclosed in the release and Mr. Sommer declined comment on the advice of legal counsel.

BFS had sued Mr. Sommer for the equivalent of $73,000, claiming unpaid bills for financial advice. Mr. Sommer countersued BFS seeking damages of about $1.5 million, claiming the company bungled a business plan for a new $6 million, 18-hole golf course at The Springs Hotel in Oxfordshire, England.

According to Mr. Sommer, delays in the construction of the course caused by BFS cost him almost $1.5 million.

BFS was hired by one of Mr. Sommer's UK holding companies, Xanadu Investments, to advise on the construction of a championship golf course on 150 acres of land at The Springs Hotel.

The 6,035-metre golf course was originally due to have opened by late summer, but construction has been delayed, partly due to difficulties obtaining financing.

Work is expected to get underway this month.