“We have settled,” A-1 Timber owner Tom Loushin said. He directed further questions to his lawyer.
Details of the settlement are confidential, but the parties have worked together since late January to get to this point.
“The most significant feature is that the settlement really recognizes that A-1 Timber and Leisnoi are really looking forward to having a mutually beneficial working relationship and productive working relationship in the years ahead,” said attorney Matt Claman, who represented A-1 Timber. “Both Leisnoi and A-1 worked together to reach an agreement that is satisfactory to both parties.”
Leisnoi president Debbie Lukin refused to comment until Leisnoi shareholders have been notified through the mail.
The lawsuit began after Leisnoi ordered A-1 Timber off its land in December 2010. In March 2011, A-1 Timber filed for a breach of contract against Leisnoi.
After Leisnoi brought in a new board of directors, the parties went through mediation to avoid court fees and having a public trial.
The original contract between Leisnoi and A-1 Timber was a four-year, $15 million deal to harvest 100 million board-feet of timber near Chiniak.
About 25 to 30 million board feet have been harvested and the initial phase of the contract was not changed, Claman said.
While this case has been settled, Leisnoi still faces a lawsuit filed last June by its previous board.
The civil trial is set to start Aug. 6. Mediation is not expected.
Contact Mirror writer Nicole Klauss at firstname.lastname@example.org.