LONDON — Granada and Redbus Film Distribution have reached an out-of-court settlement in their legal dispute over Brian Gilbert’s horror movie “The Gathering.”

Terms have not been disclosed, but Granada, the film’s financier, has reimbursed an unspecified sum to Redbus relating to the £240,000 ($390,000) deposit paid by the distrib for the U.K. rights to the film.

Redbus, then known as Helkon, pulled out of the deal a few days before the pic’s Cannes premiere last year, alleging one of the three producers, Peter Samuelson, had not fulfilled his contractual role. The distrib started legal action against Granada in September for the return of its deposit.

Rights resold to Miramax

Granada counterclaimed for the full $1.3 million value of the original deal. Having resold the U.K. rights to Miramax in Cannes as part of a multiterritory pact, the ITV company was not planning to pursue legal action, but its hand was forced by the distrib’s suit.

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“We have always had an excellent relationship with Granada and were very sad that this complicated issue, which stemmed from a difference of view over the nature and degree of involvement required of the producers of ‘The Gathering,’ led to a dispute,” said Redbus chief exec Simon Franks.

“We and Granada remain of a different view. However, we have reached a mutually acceptable settlement. This being the case, we felt vindicated in terminating our original agreement with them over ‘The Gathering,’ ” he added.