The dispute between Peter Hook and his former New Order bandmates had grown increasingly bitter over the years, but it seems like an agreement has finally been reached.

In 2015, bassist Hook - who now plays with a new band under the title 'Peter Hook and the Light' - had sued New Order over their business practices, claiming that he was owed 'millions' in unpaid royalties and accusing the band of being sneaky about forming a new company that administered the trademarks for both New Order and Joy Division.

Now, however, both parties have reached an agreement, as revealed via a fairly terse statement on New Order's website.

"New Order announce that today, a full and final settlement has been reached in the long-running disputes with their former bassist Peter Hook," it read. "The disputes were based upon Hook's use of various New Order and Joy Division assets on merchandising and in the promotion of shows by his new band, and the amount of money he receives from the use of the name New Order by his former colleagues since 2011.

"The Joy Division and New Order names mean a great deal to so many of the fans, and the band felt it important to protect the legacy. With these issues now dealt with, Bernard, Stephen and Gillian can continue to do what they do best: make music and perform live."

Hook - who left New Order in 2007 - has not commented on the matter at time of writing.