The land to be handed over is thought to be worth £10m
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Jersey politicians have approved an out-of-court settlement over ownership of part of the island's waterfront in St Helier.
States members spent two days trying to decide whether to give a piece of land worth £10m to Les Pas Holdings to settle a dispute over its claim to ownership of St Helier's foreshore.
Les Pas has been claiming ownership of a large area of the waterfront for several years and had threatened to take the States to court over the issue.
The States voted 26 to 16 to give the land to Les Pas before the case was brought to court.
Although the voting details have been made public, no further details have been released as the debate was held behind closed doors.
It is understood the States could have faced a legal bill of between £7m and £12m.
Senator Frank Walker, the president of the Policy and Resources Committee, has hinted at the possibility of a public inquiry.