Lawyer Larry Scott has paid the debt owed to former United Bermuda Party (UBP) Cabinet Minister John Irving Pearman, his lawyer, Delroy Duncan told the court yesterday.

Mr. Scott paid a total sum of $107,000 to Mr. Pearman and he has also paid one third of the agreed legal costs.

As reported in The Royal Gazette, Mr. Scott borrowed $100,000 from Mr. Pearman in 1994 to start up his law firm in Somerset but was unable to meet the payments on his two $50,000 overdrafts with the Bank of Butterfield.

Mr. Pearman, who acted as guarantor, was forced to take over the debt when he defaulted on repayments.