Greenwich, NY – The owner of Willard Mountain ski area, in Upstate New York’s rural Washington County north of Albany, has reached a settlement in a lawsuit filed by the owners of the land that constitutes the resort’s base area.

Siblings Lynda Keyes and Phillip Kosowski Jr., whose late father in 1958 signed a 99-year agreement with Willard’s former owner to lease 50 acres encompassing Willard’s parking lot, base lodge and lift base terminals, filed the lawsuit against current Willard owner Chic Wilson. The pair accused Wilson of cheating them out of hundreds of thousands of dollars in lease payments by under-reporting revenues. After losing that lawsuit in June, Wilson responded by filing bankruptcy as he sought a buyer for the diminutive ski area popular with local families and area high school race teams.

The settlement calls for Wilson to turn over to Keyes and Kosowski more than 100 acres he owns higher on the mountain, pay the pair $350,000, and share half of any proceeds from the sale of Willard Mountain that may exceed $1 million.

Wilson has indicated that Willard Mountain’s 2015-16 ski season will take place as planned.