Bryan Singer has agreed to pay $150,000 to resolve rape allegations brought forth by a man who said the director had sexually assaulted him on a yacht in 2003.

On Wednesday, Singer’s attorney confirmed to the Los Angeles Times that the matter was settled. In light of the settlement, Singer, 53, maintained that he didn’t know the accuser, Cesar Sanchez-Guzman, and denied any wrongdoing.

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The Wrap reported that Sanchez-Guzman filed a lawsuit against Singer in December 2017, accusing him of sexually assaulting him during a yacht party in Seattle, Washington, when he was 17. He claimed Singer had taken him to a secluded area on the vessel, where he forced him to perform oral sex before the director allegedly performed oral and anal sex on him.

According to the Los Angeles Times, Sanchez-Guzman had filed for bankruptcy in 2014 but the case was reopened last year by a bankruptcy trustee who alleged that he failed to report the potential proceeds from a lawsuit against Singer as an asset. The accuser later included the allegations against Singer in his personal bankruptcy case.

“The decision to resolve the matter with the bankruptcy trustee was purely a business one, as litigation costs would well exceed the amount requested by the trustee to pay off the creditors who were owed money when the debtor filed for bankruptcy,” an attorney representing the filmmaker, Andrew Brettler, said in a statement to the Los Angeles Times.

A lawyer representing the creditors told The Wrap that they’ll receive a little less than $61,000. The remaining settlement money will go to Sanchez-Guzman. The lawyer added that the debt involved student loans.

Variety reported that Sanchez-Guzman’s case against Singer will be dismissed with prejudice if he accepts the settlement.

“There should be at least nominal funds being returned to the debtor as surplus at the end of the case,” the trustee’s attorney told the magazine. “The settlement will relieve the debtor of a significant nondischargeable debt.”

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[Featured image: Bryan Singer/Matt Sayles/Invision/AP, File]