A spokesperson from the Greek owner described the development as “great news” for the company.

“With Ironridge acting so aggressively, it would be difficult to approach other investors,” she said.

Following the two parties’ latest deal, there is no pending claim from either side and any agreement has been terminated.

Arbitration started in May and was supposed to continue in early 2015 with NewLead blaming Ironridge for its share price drop, an argument that was dismissed by a court ruling in June.

Ironridge