HOLME Valley Business Association has agreed a new deal to pay its debts to a former member.
The Holmfirth-based group owes Mrs Kath Smith £1,800 following court action over the town’s 2006 Christmas lights.
Now, following a hearing last Friday, a new monthly payment deal has been agreed.
Members of the 100-year-old group have been given until 4pm this Friday to pay Mrs Smith £300.
They must then pay £200 by the 27th day of each month until the debt is settled.
The payment plan was agreed to by both parties and was not ordered by a judge.
The new deal comes after Holme Valley Business Association missed the October 26 deadline to pay the balance of its £3,300 debt to Mrs Smith.
Bailiffs were called, but with the group days from collapsing, a stay of execution was granted to allow members to re-organise themselves.
The group has now re-formed and elected Greg Christofi as its president.
Vice-presidents are David Earnshaw and Royston Rogers, the treasurer is Ailsa Booth and the secretary is Barry Lee.
Mrs Smith told the Examiner she was still intending to reclaim Christmas lights that she was not awarded costs for by the judge.