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.
“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.
“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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