The long-running dispute over intellectual property between MotorSport New Zealand and the V8 SuperTourers has reached an out of court settlement.

The country’s governing body has issued a brief statement to say it had settled a claim with complete denial of liability.

NZ Vee Eight Entrants Group Association (VEEGA) had launched action against V8 SuperTourer stakeholders alleging a breach of intellectual property in that they transferred the design of the NZV8’s Car of Tomorrow to the V8 SuperTourers, which held its first meetings in early 2012.

A statement by Motorsport New Zealand president Shayne Harris read: “MotorSport NZ, with complete denial of liability, has elected to settle a claim, by some defendants, for costs incurred in High Court proceedings issued against them by Vee Eight Entrants Group Association (VEEGA).

“MSNZ was concerned that it would spend more money continuing to defend the costs claims than the costs being sought. In the interests of the Sport, MSNZ has now settled and paid the costs sums claimed.”

Mark Petch, a former stakeholder in V8 SuperTourers, said he was pleased that a settlement had been reached with MSNZ to end the matter, but took umbrage at the authority’s statement.

“MSNZ denies liability and says it paid those amounts ‘in the interests of the Sport’ and because it was ‘concerned that it would spend more money continuing to defend the costs claims than the costs being sought’,” read a statement from Petch in part.

“We believe that it also did so because the evidence against it was clear.

“Although MSNZ was not formally named as a party, we believe that MSNZ not only supported VEEGA’s court action, but helped fund it, and was involved in almost every aspect of it.

“We put evidence of MSNZ’s actions before the Auckland High Court, as we believe that MSNZ’s actions made it liable for our costs incurred in defending the abandoned proceeding.

“We do not believe that any of its actions have been in “the interest of the Sport.”