Settlement reached in Isle of Wight's Floating Bridge legal dispute

A full and final settlement has been reached, the council, Burness Corlett Three Quays (Southampton) and Mainstay Marine Solutions have confirmed. 

The settlement was reached at mediation, ending the legal dispute between the parties relating to Floating Bridge 6, otherwise known as the Wight Elephant.

"It has been agreed that the terms of the settlement should remain confidential, and no party will make any further statement relating to the terms of the settlement agreement," said a spokesperson for the local authority. 

• What happens now? HERE's what the Isle of Wight Council's leading councillors have said: What's next for Isle of Wight Floating Bridge after settlement?

Read more: 

• What the government says about Wight Elephant chain ferry
• What council had to say on government's floating bridge review

Back in July, at a full council meeting, Cllr Phil Jordan, cabinet member for infrastructure and transport, said the local authority was very close to agreeing a resolution.

The Isle of Wight Council entered mediation with the builders and designers of Floating Bridge 6 back in March.

Discussions had been ongoing, in the bid for a 'fair and acceptable settlement'.

Read more: 

• Isle of Wight Floating Bridge legal action update
• Council's multimillion payout hopes for Floating Bridge

The £3.2 million boat, which runs between Cowes and East Cowes, has been plagued with problems, malfunctions and breakdowns since it was installed in 2017.

The Isle of Wight Council started legal action to get back some of the money lost through repairs, fees and added costs, including a replacement launch.

It followed years of talk and followed a government report that said the vessel was 'potentially poorly designed' with 'several apparent design' issues.