An almost five-year-old dispute between Westpac Banking Corporation (ASX:WBC) and acquisition company Corum Group (ASX:COO) has been settled.
 

Corum says it will pay Westpac $1.2 million as a final settlement of its obligations under a loan facility agreement on January 24, 2007.
 

In turn, Westpac is expected to discharge the fixed and floating charge it holds over Corum’s assets. 
 

In April 2010, Corum paid Westpac $375,000 in full satisfaction of the senior debt facility.
 

In a statement, Corum said the funds required to settle these amounts have been generated from its operations.
 

Westpac reported a net profit of $7.1 billion in the 2011 financial year.