Taymor's lawsuit sought half of all profits derived from the sale, license, transfer or lease of any rights in the original "Spider-Man" book along with a permanent ban of the use of her name or likeness in connection with a documentary film that was made of the birth of the musical without her written consent.

WSJ: Settlement reached in 'Spider-Man' B'way musical

The hung council, which has a Conservative administration, hopes to buy the 61-year lease and transfer the theatre's running to a community group.

BBC: Brewhouse Theatre: First rescue bid rejected

The lawsuit comes two weeks after the New Jersey Sports and Exhibition Authority voted to transfer the property's lease and development rights to the developer, and allow it to do preliminary site work.

WSJ: Jets, Giants Sue Over Mall Complex Near Their New Jersey Stadium

The buyer can lease, sell or transfer the property to another family member, and if he dies, his property can be passed to an heir.

FORBES: A Casa of Your Own