Dragan Šolak's first victory in the trial against United Group

A company owned by founder Dragan Šolak sued a firm controlled by BC Partners in London, claiming that it was denied a bonus totaling 250 million euros, which it was promised during the partial sale of assets of a European telecommunications and media company.

A British court ruled that the firm owned by BC Partners was required to pay the money to Solak, according to an order published on Thursday, with the consent of all parties.

"The proceedings are stayed except for the purpose of implementing this agreement ," a London judge said in a signed court document, Bloomberg reports.

Signal of a possible truce

The decision on the payout could, as the text states, signal an end to a long-running dispute between Šolak and the London-based investment fund, following the sale of certain business units. Šolak has also filed a lawsuit in the Netherlands over his unjustified dismissal from his position as an advisor to the board of directors. The trial is scheduled for October.

"This represents a complete and final victory for our client in respect of long overdue obligations ," said Simon Walsh, the lawyer representing Šolak in the London proceedings.

When his contract as an advisor to the board was not extended in June, the company told Šolak that a bonus related to the sale of parts of the business worth about 1.5 billion euros would be paid, sources familiar with the matter said.

Šolak's background

Solak, who also owns English soccer club Southampton FC, founded the company in his hometown in Serbia in 2000 and, with the help of private equity funds, turned it into a company with operations in Greece, Bulgaria and most other Balkan countries. He was chairman of the advisory board until his resignation in June, according to Bloomberg.

Payment details

According to the court order, BC Partners will make the payment after deducting any taxes due to Luxembourg tax authorities. BC Partners declined to comment, according to Bloomberg.