This is a summary of an article originally published by Law360. Read the full article here.

A Delaware bankruptcy judge approved the $35.7 million sale of Nicklaus Cos. LLC to affiliates tied to retired golfer Jack Nicklaus, resolving years of litigation involving Nicklaus, the company and former Chairman Howard Milstein.

The transaction will reunite the company and its intellectual property with the Nicklaus family while bringing an end to ongoing disputes, including litigation over Nicklaus’ name, image and likeness and an appeal of a $50 million defamation judgment in his favor.

G. David Dean of Cole Schotz PC, representing Nicklaus, said the agreement provided a path toward resolving the longstanding disputes.

“This sale marks the start of a new day for the company but also an end of four years of litigation between Mr. Nicklaus and Mr. Milstein, a result I think everyone is happy to see,” Dean said. “This sale process achieved global peace in a way that only the bankruptcy could. It brought the parties together in a manner that facilitated what we all believe is a win-win.”

The court’s approval clears the way for the sale and the broader settlement to move forward, bringing the parties’ yearslong legal battle to a close.

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