Britain’s financially troubled Royal Institution has settled its legal fight with former director Susan Greenfield.

When Greenfield was sacked from her role as director in January she launched a legal action, alleging sexual discrimination. Her supporters recently failed in an attempt to oust the current leadership of the RI (see: Revolution crushed at Royal Institution).

In a statement released today the RI says, “The Royal Institution of Great Britain and Baroness Greenfield are pleased to announce that they have reached full agreement as to the terms for Baroness Greenfield’s departure from the post of director. … Neither the Royal Institution nor Baroness Greenfield intends to make any further comment on the terms or the circumstances leading up to her departure.”

The RI faces severe financial problems. The statement regarding the settlement comes just days after the RI released its annual report to members.

This notes that the RI’s income for the year ending 30 September 2009 was £2,824,000 but its costs were £4,838,000. It has currently used £965,000 of its £3 million agreed overdraft and says “during 2010 the full facility is expected to be utilised”.

However, the annual report does not contain details of any payments that may have been made as part of the settlement reached with Greenfield. It says only, “The charity is disputing the basis of the [Greenfield’s] claim and taking necessary legal advice. It is not therefore possible for an estimate to be made of any future financial effect this claim may have on the charity.”

The RI says there are no plans to issue any details that go beyond today’s statement at the forthcoming Annual General Meeting (17 May), so members of the venerable institution may have to wait for next year’s accounts to find out if any money was involved in the settlement…