Local News

Tall Ships Groups Reach Settlement

Posted May 8, 2007 5:27 p.m. EDT

— The national and North Carolina groups that organized the Tall Ships event last summer at Beaufort said Tuesday that they have settled their financial differences.

America's Sail Inc. said it reached an agreement with the Friends of the North Carolina Maritime Museum "to resolve financial and other differences." Terms of the agreement weren't disclosed.

The two sides have been at odds since last fall, when America's Sail said the local group hadn't made contractual payments. The museum group said its finances were in such disarray that it couldn't determine how much was owed.

The State Auditor's Office recently criticized the Friends of the Maritime Museum for mismanagement of the event, saying a lack of central control led to cost overruns and poor planning.