Izodia and Orb Estates are thought to be on the verge of agreeing a settlement over the £33m of alleged missing cash being investigated by the Serious Fraud Office.
Orb is thought to have agreed to repay the missing cash, plus costs and interest, although timescales are not clear.
Sources speculate that the deal could lead to the sale of the 36 Thistle hotels Orb bought last March for £600m.
Despite the deal, the SFO investigation continues.
References: Daily Telegraph 22/02/03 page 27
