Settlement terms have been reached in the lawsuit between Thoroughbred owners J. Paul Reddam and Kenneth Ramsey over an alleged injured horse, one day after a jury trial was scheduled to begin in a California superior court.

Terms of the settlement are confidential, according to attorneys for the respective parties, and will become official upon the expected sign-off by Orange County Superior Court Commissioner Jane D. Myers, who is presiding over the case. Reddam will retain ownership of Big Picture, the horse at the center of the dispute, which was purchased from Ramsey for $600,000 in July 2005.

“Ownership of the horse wasn’t a component of the settlement terms,” said Daniel Baren, an attorney representing Reddam, who originally asked the court to rescind the sale.

Michael Meuser, an attorney representing both Ramsey and fellow defendant, trainer Dale Romans, also confirmed the settlement, but said he couldn’t comment further